Following Tesla's best day on the market since 2013, the stock rose more than 3% on Friday, closing at its highest since September of last year.
Tesla shares rose 3.4% on Friday to $269.23, its highest finish since September 2023. With the two days of gains, the stock erased its loss for the year and is now up 8.4% in 2024, still trailing the Nasdaq's 23% increase. Tesla's profit margins were boosted by $739 million in revenue for environmental regulatory credits, which JPMorgan Chase analysts noted in a report were a "potentially unsustainable driver" of earnings and cash flow. Results were also boosted by $326 million in revenue from FSD, the company's Full Self-Driving Supervised system.
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