"The move higher in Tesla shares bore no relation whatsoever to the company's financial performance in the quarter," JPMorgan said.

Tesla, IBM and Meta Platforms helped lead most U.S. stocks higher after a rush of profit reports from some of the country's most influential companies

The final earnings release of 2024 finalized another difficult year for Tesla’s bottom line, as its full-year net income came in at $8.4 billion, a 23% decrease from 2023 and a 40% decline from 2022’s record $14.1 billion profit, though its full-year revenue rose $97.7 billion, a 1% improvement from 2023’s record.