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

Tesla's fourth-quarter net income fell 71% from a year ago when results were boosted by a one-time tax benefit. The latest results fell short of Wall Street forecasts.

Tesla posted a rare earnings miss for the last quarter of 2024, coupled with disappointing results amid weak sales and revenue leading to thinning profit margins.

Tesla fell short of analysts' estimates for gross profit margin in the fourth quarter on Wednesday, as the electric-vehicle maker rolled out financing offers and discounts to spur flagging demand for its aging lineup.

The electric-car maker reported net income of $2.5 billion, a result driven in part by strong growth in Tesla’s energy business.