Tesla Stock Fluctuates Amid EV Sector Volatility
Tesla stock rose nearly 4% as the electric vehicle sector saw a boost following strong fourth-quarter results from Chinese EV maker Li Auto, which surpassed earnings and revenue estimates. This positive news helped counterbalance Tesla's own underwhelming performance in the fourth quarter and the overall bearish sentiment towards the industry. However, despite the recent uptick, concerns remain about the high valuations of EV stocks in relation to their growth prospects, suggesting that sustained optimism in the sector may be short-lived.