New York CNN —
Tesla posted a rare earnings miss for the last quarter of 2024, coupled with disappointing results amid weak sales and revenue leading to thinning profit margins.
Shares of Tesla (TSLA), which had gotten a lift since the election on hopes that the company would benefit from the close ties between CEO Elon Musk and President Donald Trump, initially fell 6% in after-hours trading before rebounding to a narrow gain.
The earnings miss comes as the company is facing headwinds from increased competition from electric vehicle offerings from other automakers in
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