Tesla delivers outstanding Q2 results

By: Miguel A. Rodriguez

09:45, 14 September 2020

Tesla is now the no. 1 global carmaker by market capitalization.

Tesla doesn't cease to surprise with its performance. If at the end of the quarter it broke its own record, as the share price gained 8% pushing its market cap at over $200 billion, today, it amazed analysts with its financial report. 

The report showed that Tesla delivered around 90,650 vehicles in the previous quarter, exceeding by far analysts expectations of 72,000. The deliveries dropped by only 4.8% compared to the same quarter last year. Moreover, the company said the production is back to pre-pandemic levels. 

The overall opinion is that the electric carmaker passed the pandemic test better than some of its competitors – Toyota, Ford, General Motors, and Fiat Chrysler, which scored losses of 30% in the second-quarter sales, as plants & dealerships closed and consumers stayed home.

During today’s pre-market session, stocks soared more almost 9% to $1,219.02, after Wednesday they closed at a record of $1,133.36 reaching a market cap of more than $207 billion, exceeding Toyota’s $204 billion.

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Sources: cnbc.com, marketwatch.com

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This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided.