Tesla, Inc. (NASDAQ:TSLA) shares surged 12.32% in premarket trading despite missing Q1 earnings and revenue expectations for the third consecutive quarter. The surge is attributed to the core auto gross margin exceeding analyst estimates, possibly due to one-time recognition of revenue from deferred full self-driving (FSD) sales. Despite concerns over potential negative sales growth in 2024, Elon Musk's positive outlook on future sales and the launch of more affordable vehicle models by early 2025 boosted investor confidence. Analysts' reactions were mixed, with BofA Securities upgrading Tesla to Buy, Mizuho Securities maintaining a Neutral rating but lowering the price target, and Needham reiterating a Hold rating.