Aug 8 2013, 2:28pm CDT | by Luigi Lugmayr
Tesla Motors surprised with an operating profit and the TSLA stock jumped 14% in after hour trading yesterday. The Tesla Stock closed at 153.20 last night. Now TSLA stands at $154.20, which is almost 15% higher than yesterday. 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.
Disclaimer: I own Tesla Stock.
Luigi Lugmayr (Google) is the founding chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at email@example.com.
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