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Tesla Stock Gyrates on Bigger-Than-Expected Loss

A drop, then a bounce in after-hours trading.

Tesla

Tesla’s stock swung back and forth Tuesday afternoon as the company reported third-quarter results that missed Wall Street expectations.

The company said it saw a loss of 58 cents per share on $1.24 billion in revenue. Analysts had expected Tesla to report a loss of about 50 cents per share on $1.26 billion in revenue, according to a consensus estimate from Thomson Reuters.

Although shares initially fell in after-hours trading, the company’s stock jumped 10 percent higher once the quarterly results were digested further. Those gains were later pared to an 8 percent increase above the day’s market close.

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This article originally appeared on Recode.net.

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