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
- Podcast: Quantum Computing Takes Flight | Financial Sense
- John Boehner Calls Ted Cruz "A Miserable Son Of A Bitch, Lucifer In The Flesh" | ZeroHedge
- Market Recap Apr 27, 2016 | FundMyMutualFund
- Iran's Supreme Leader Accuses Obama Of Lifting Sanctions Only "On Paper" | ZeroHedge
- From Dollar Daze to Dollar Days | Financial Sense
- Gold and Silver Update - It's Game On! | ZeroHedge
- The $2 Trillion Gamble That Saudi Arabia Cannot Win | ZeroHedge
The most relevant financial news and articles from the Internets
- Google CEO's vision for the future sounds a lot like Microsoft's (GOOGL... | Business Insider
- An artist uses mathematical formulas to make... | Business Insider
- HBO released 6 new photos from the next episode of 'Game of Thrones' | Business Insider
- A new Tennessee bill lets counselors refuse... | Business Insider
- The best movies and TV shows coming to Amazon, iTunes, Hulu, and more in... | Business Insider
- A video of men reading derogatory comments to... | Business Insider
- Several major companies are joining forces to push the government... | Business Insider