Tesla shares Jump 27%
Today is all about Tesla Motors (TSLA). The beat the street and the shorts are being pounded. Tesla shares are up 27% today, now trading above $70 for a new 12 month high.
We told you last week to Buy in May and Walk Away (TSLA, BCC, SPLV), Tesla made the cut. Tesla finally posted a profit, the gamble paid off and it's a big slap in the face to Ford (F), General Motors (GM) and everyone else who has been in the auto business forever.
Expect all the analysts to jump on board and post new price targets because they have been proved wrong. Annoying. Congrats to all who believed in the company and won on the earnings call.Tesla posted Q1 earnings per share of 12 cents, that beat the street estimates of 8 cents. Revenue was more impressive, jumping 16% year over year to $563 million. That was a beat by $63 million.
Looking ahead in Q2, Tesla will deliver around 4,500 vehicles in North America. The company believes it will exceed its full year 20,000 vehicle delivery estimate. Shares of Tesla continue to rise, they should close over $70 and touched $71.90 thus far today.
Best of the Blogs
Scanning and identifying the best blog entries every hour
- Euthanasia of the Economy | Financial Sense
- Just Two Charts | ZeroHedge
- Spot Today's Odd One Out | ZeroHedge
- Will the “Least Loved” Bull throw a “Taper Tantrum?” | Financial Sense
- Bitcoin Slammed As Baidu Suspends Payments Due To "Fluctuations" | ZeroHedge
- Why The Fed Won’t Taper In December | ZeroHedge
- The Kress Cycle and the Fate of the Middle Class | Financial Sense
The most relevant financial news and articles from the Internets
- Here's How Hot Startups Help Employees Cash Out Before An IPO | Business Insider
- DEUTSCHE BANK: The Performance Of Global Markets In 2013 Was A Necessary Response... | Business Insider
- This 10-Step Guide To Surviving The Smog In China Is So Depressing | Business Insider
- A Congressman Helped Push The Air Force To Keep Using Aircraft It Didn't Even... | Business Insider
- Al Qaeda Is Thriving In Yemen | Business Insider
- DEAR CFA TEST-TAKERS: Here's The Best Advice I Can Give You | Business Insider
- Notable Mergers and... | StreetInsider.com