Tesla Stock Drops on Q3 Earnings Miss, But Investor Confidence High on Self-Driving Prospects
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Tesla (TSLA) stock fell after reporting weaker than expected Q3 earnings, with gross margins impacted by factory downtime and production ramp costs.
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Tesla remains confident in its self-driving capabilities based on data gathered from its growing vehicle fleet.
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Alger Spectra Fund believes Tesla has a technological lead in a large, rapidly growing electric vehicle market.
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At the end of Q4, Tesla was held by 82 hedge fund portfolios, up from 81 in the previous quarter.
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The article shared a list of the best EV stocks to buy in 2024 and top investor letters from hedge funds.