Tesla’s Profits Create Wall Street Stock Surge

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(Source: businessweek.com)
Elon Musk and a Tesla Model S (Source: businessweek.com)

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.

Tesla Model X (Source: teslatrend.com)
Tesla Model X (Source: teslatrend.com)

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.