“There have been many car startups over the past several decades, but profitability is what makes a company real. Tesla Motors is here to stay and keep fighting for the electric car revolution.”
So spoke CEO Elon Musk in a statement. Those who pay attention to Tesla Motors stock [NASDAQ: TSLA] have probably noted the ups and downs, most of which are typical of the daily activities on the market.
News and public perception often drive these prices, and Tesla Motors is no different. Since Tesla Motors is such a new company, there is a lot of interest in profitability and company image.
Stock prices plummeted after an infamous story posted in The New York Times, but rebounded when the story was rebuffed. After a late-Sunday-night announcement, stock prices soared to over $46. What’s the good news?
Tesla Motors is maintaining its 400/wk manufacturing schedule, has delivered more cars in the first quarter than projected, and will be profitable for the first quarter of 2013. This will be the second profitable quarter from the growing company, and we’re looking forward to seeing more good news like this in the future.