TSMC Sees Strong AI-Driven Growth as Demand for Advanced Chips Continues to Surge 
OpenAI May Slash AI Service Prices Amid Growing Rivalry With Anthropic 
Changchun Targets EV Growth as China’s Auto Industry Consolidation Accelerates 
SpaceX IPO Sets Record With $75 Billion Raise, Valuation Hits $1.77 Trillion 
Switch Eyes Multi-Billion-Dollar Funding Round at $50 Billion Valuation Ahead of Potential IPO 
Alibaba Offers $1.5 Billion to Acquire Grocery Delivery Platform Pupu 
Hanmi Semicon Shares Surge After $33 Million SpaceX Investment 
SK Hynix Stock Rebounds as AI Memory Chip Demand Fuels Expansion Plans 
Qualcomm Stock Gains After Jensen Huang Endorsement 
Meta Partners With Reliance to Launch First AI-Powered Data Center in India 
CrowdStrike Beats Q1 FY2027 Expectations, Raises Outlook Despite After-Hours Stock Decline 
SpaceX IPO Demand Surges Past $250 Billion Ahead of Historic Market Debut 
Trump Administration Defends Anthropic AI Restrictions in Ongoing Federal Lawsuit 
Meta Challenges Australia’s Proposed Tech Tax, Citing U.S. Trade Agreement Concerns 
Intesa Sanpaolo Launches €30.6 Billion Bid for Monte dei Paschi to Drive Italian Banking Consolidation 
Adobe Beats Q2 2026 Estimates, Raises Full-Year Outlook as AI Revenue Surges Despite Stock Drop 
Tesla’s market cap soared by $150 billion as the stock jumped 22% on October 25 following strong Q3 earnings, leading to a $3.5 billion loss for short sellers. The massive rally wiped out short sellers' 2024 gains in just one trading day, shaking market sentiment.
Tesla’s Q3 Earnings Spark 22% Stock Rally, Wiping Out 2024 Short Seller Profits
The electric vehicle manufacturer's market capitalization increased by $150 billion in a single day due to the 22% increase in Tesla stock on October 25, coinciding with its Q3 2024 earnings publication. Simultaneously, Tesla's 22% increase resulted in a $3.5 billion loss for short sellers of TSLA in a single day, per Teslarati.
Analysts and investors alike were pleased with Tesla's Q3 2024 results. A BNN Bloomberg report indicated that Tesla's Q3 earnings were anticipated to be underwhelming. TSLA stock experienced a decline of approximately 14% during the year. Nevertheless, Tesla exceeded expectations, and Elon Musk revealed during the Q3 earnings call that the company could experience a 30% increase in vehicle sales next year.
Tesla's second-largest single-day rally since it went public was precipitated by its optimistic results. Tesla's market capitalization increased by $150 billion, its stock price increased by 22%, and TSLA shorts suffered a $3.5 billion loss by the conclusion of the October 25 trading day. In a single day, the $1.7 billion year-to-date profit of Tesla shorts was eliminated, according to S3 Partners. Additionally, by the conclusion of Thursday's trading, TSLA shorts were down $1.8 billion for 2024.
Tesla’s Strong Q3 Guidance Surprises Analysts, Ignites Market Confidence in Future Growth
Steve Sosnick, chief strategist at Interactive Brokers, observed that Tesla's optimistic guidance was a genuine game-changer. "Tesla's guidance was exceptional." He stated, "The market was willing to trust Elon Musk's assertions about sales growth, at least for yesterday."
Intriguingly, Tesla's Q3 results did not only surprise short sellers. Bloomberg also observed that, on average, Tesla's Q3 results were unexpected to analysts. Analysts anticipated that Tesla would disclose an average 10% decrease in quarterly profits. In contrast, the organization disclosed a nine percent increase in revenue from the preceding fiscal year. Tesla's automotive gross margin, which excludes regulatory credits, also exceeded expectations.
