Tesla has surprised everyone with posted a profit of $.20 per share, as opposed to the predicted -$.17 per share. What is even crazier about this, is that the after hours trading for Tesla shot up 14% to $153 dollars, making for a 300% increase since the beginning of the year.
But does this come as a surprise to anyone? They have been selling so well and have been keeping their promises. Tesla has delivered 5,150 vModel S sedans in the first quarter, 650 more than they said they would. They also said that they are set to deliver 21,000 vehicles worldwide in this year alone. Do I think they can do it? I’ll just say I have a lot of faith in this company, and they have yet to prove me wrong.
All of this positive investment news is great for the Californian automaker as they set their sights on creating a $35,000 compact electric sedan and start production on the Model X. Tesla has gathered quite a few believers since the Model S started production, and at the same time, quite a few doubters. Needless to say, only time will tell if these profits stand, but at the rate they are going at, I only see them going higher.