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Tesla breaks records at the end of the quarter

Miguel A. Rodriguez
Miguel A. Rodriguez
14 September 2020
Even during the pandemic, Tesla does not disappoint.

Yesterday was a day of records for Tesla, as it had an all-time best intraday trading session. It's all because of an email sent by Elon Musk to his employees that has been leaked, and in which he expressed his optimism regarding this quarter's numbers. According to it, the company could break even in the second quarter.   

It is not the first time when Tesla surprises. Last quarter, it had better than expected vehicle deliveries and revenue of $5.99 billion, higher than the $5.8 billion expected, even though some plants closed in China due to the pandemic.

After yesterday's trading session, when it gained more than 8%, Tesla's market cap exceeded $200 billion for the first time. At the moment, it is one step away from the world's highest-valued carmaker, Toyota - $214 billion.

This year, the stock price went up 159%, while USA500 lost 5%, and USA30 went down 11%. 

The company is expected to release its financial report before the Fourth of July weekend.

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Miguel A. Rodriguez
Miguel A. Rodriguez

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.