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We recently published a list of These 10 Firms Led Friday’s Rally, Here’s Why. In this article, we are going to take a look at where Tesla Inc. (NASDAQ:TSLA) stands against other firms that led Friday’s rally.
The stock market ended the week stronger with all its major indices closing higher as investors repositioned portfolios ahead of more corporate earnings next week while navigating an evolving global trade environment.
The tech-heavy Nasdaq surged by 1.26 percent, while the S&P 500 and Dow Jones eked out marginal gains of 0.74 percent and 0.05 percent, respectively.
Meanwhile, 10 companies mirrored the broader market sentiment, ending the trading week with modest gains. In this article, we have listed the 10 top-performing stocks and detailed the reasons behind their gains.
To come up with the list, we considered only the companies with a $2-billion market capitalization and $5-million trading volume.
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Tesla Inc. (NASDAQ:TSLA)
Tesla Inc. rallied for a fourth straight day on Friday, adding 9.80 percent to close at $284.95 apiece as investors cheered twin news that billionaire Elon Musk will devote more time to the company while also taking into account the US government’s relaxation of rules on self-driving vehicles.
Speaking at a conference call earlier this week, Musk said that he will be “allocating far more of … time to Tesla” beginning next month.
The announcement came after the company reported a plunge in earnings during the first quarter of the year. In its latest earnings release, Tesla Inc. (NASDAQ:TSLA) said net income attributable to shareholders nosedived by 71 percent to $409 million from $1.39 billion in the same period a year earlier. Total revenues declined by 9 percent to $19.3 billion from $21.3 billion year-on-year.
Musk was tapped by President Donald Trump to lead the Department of Government Efficiency (DOGE). As the agency’s head, Musk was tasked to initiate and review federal spending in a bid to eliminate inefficiencies and reduce spending.
Meanwhile, Transportation Secretary Sean Duffy unveiled a new framework for the department, emphasizing the need to cut red tape and move toward a single national standard for self-driving vehicles.
“This Administration understands that we’re in a race with China to out-innovate, and the stakes couldn’t be higher,” Duffy said.
The move spelled good news for TSLA, which has setits sights on the development of robotaxis.
Overall, TSLA ranks 2nd on our list of firms that led Friday’s rally. While we acknowledge the potential of TSLA as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than TSLA but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.