“Between two major growth waves”: Tesla could see “notably lower” growth in sales volumes of its electric vehicles, the company said in its shareholder deck (pdf), which it released overnight. The slowdown comes as Tesla — currently the world’s most valuable automaker — is “between two major growth waves” and is planning to focus this year on launching its next-generation vehicle at its Texas gigafactory. The company reported weak 3Q 2024 earnings, with revenues rising 3% to USD 25.2 bn, which the Financial Times notes is “its slowest pace of growth in more than three years” and falls short of the USD 25.6 bn analysts had expected.

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THE CLOSING BELL-

The DFM closed up 1.8%, on turnover of AED 968.4 mn. The index is up 0.8% YTD.

In the green: Takaful Emarat (+14.9%), Dubai Islamic Bank (+7.7%) and Ekttitab Holding Company (+6.6%).

In the red: National International Holding Company (-10.0%), Al Firdous Holdings (-3.8%) and Emirates Reem Investments Company (-2.7%).

Over on the ADX, the index closed essentially flat on turnover of AED 1.2 bn, while Nasdaq Dubai rose 0.9%.

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