Tesla stock (TSLA) surged on Thursday after investors focused on the positive from mixed third quarter earnings results. Investors cheered beats on adjusted earnings per share and higher gross margins in addition to the news that Tesla’s cheaper electric vehicle is on track for production next year. CEO Elon Musk also said on an earnings call that Tesla’s volume growth could be 20%-30% next year. Tesla shares ended nearly 22% higher, adding tens of billions of dollars to the company’s market valuation in its best day since 2013. Tesla reported revenue of $25.18 billion, which was lower than the $25.4 billion expected per Bloomberg consensus but higher than the $25.05 billion it reported in Q2 and also topped the $23.4 billion Tesla reported a year ago. Tesla posted adjusted earnings per share of $0.72 vs. $0.60 expected, on adjusted net income of $2.5 billion and free cash flow of $2.9 billion. The closely watched gross margin figure came in at 19.8%, much higher than the…
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