Tesla Stock jumped 14% in after hour trading because of surprise operating profit.
Tesla Motors surprised with an operating profit and the TSLA stock jumped 14% in after hour trading. The Tesla Stock stands now at 153.20. It will be interesting to see what will happen today during normal trading hours. Tesla Motors now appears really solid at the small scale they are operating. The question is if the electric car business is going to scale for real. Everything points to it, but there are still lots of issues to overcome to make electrical cars the norm.
Tesla's surprise profit is sourced by record sales of the Tesla Model S. Tesla sold 5,150 Model S in the last quarter. Tesla is making now almost 500 cars per week. The net-income for the quarter was $26 million. Tesla is also debt free. The car maker paid back the government loan and sits on $750 million in cash.
More details on the financials can be found on the Tesla site. Watch below a recent video review of the Tesla Model S.
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Disclaimer: I own Tesla Stock.