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Tesla Stock Surges Despite ‘Ugly’ Q1 Results: Here’s Why

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Tesla Inc. (NASDAQ:TSLA) shares are on the rise, despite the company’s disappointing Q1 results. The electric vehicle giant’s stock surged after it announced plans to speed up the launch of new models.

What Happened: Phil LeBeau, a CNBC correspondent covering the automotive and aviation sectors, described Tesla’s Q1 results as “ugly.” However, the company’s shares soared following its announcement of an accelerated new model launch.

Tesla stated, “We have updated our future vehicle line-up to accelerate the launch of new models ahead of our previously communicated start of production in the second half of 2025.” This includes more affordable models and a next-generation platform.

See Also: Tesla Q1 Earnings Highlights: EV Giant Misses Wall Street Estimates, Makes Cost Cuts, Invests In AI, Spee

The company’s shareholder letter …

Full story available on Benzinga.com

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