Tesla's stock surged 22% after reporting third-quarter earnings, despite automotive revenue rising only 2% year-over-year and challenges in maintaining profit margins. Hedge fund manager Paul Wick criticized the stock's rebound as disconnected from the company's weak fundamentals, including declining market share and regulatory scrutiny. Wick noted that Tesla's market share of EVs in the U.S. has fallen below 50%, with sales in California declining for three consecutive quarters, while the Cybertruck faced multiple recalls. Despite the stock's recent performance, he remains skeptical about its sustainability given the dire fundamentals.
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