Tesla Inc.’s latest earnings call lacked the drama and hostility of the prior one, and that was exactly what investors wanted.
Chief Executive Elon Musk was more muted during the post-earnings call with analysts Wednesday, personally apologizing to the two he had lashed out back in May.
That behavior, plus a renewed promise of profitability in the second half of the year, helped send Tesla TSLA, +13.65% shares up as much as 11% in Thursday trading, putting them on track for their biggest one-day gain since November 2015.
The stock was on pace for its highest close since July 2, and was the best performer on the Nasdaq 100.
“The CEO worked to restore some faith and credibility with investors that he can be a plus to the investment narrative, not a minus,” wrote KeyBanc Capital Markets analyst Brad Erickson, who has the equivalent of a neutral rating on the stock. Musk delivered what Erickson called “maybe the most valuable apology of all time.”