The last quarter was a rollercoaster for the United States’ most valuable automotive manufacturer. Tesla has managed to demonstrate impressive results in the end of the quarter, delivering 83,500 vehicles in a 3-month period. The price of TSLA shares has finally rebounded after a rapid, yet devastating period of depreciation. Tesla is now traded at $301 per share. Over the course of the last 3 months the company was traded between $379 and $263.
Only three months ago the company has struggled to manufacture 5,000 Model 3s per week. Over 53,000 vehicles have been manufactured in July, August and September.
Elon Musk will no longer be the chairman of the company in accordance with the deal he has reached with the SEC following accusations of price manipulation.
“We are very close to achieving profitability and proving the naysayers wrong, but, to be certain, we must execute really well tomorrow (Sunday). If we go all out tomorrow, we will achieve an epic victory beyond all expectations,” said Elon Musk in his message to company employees.
But is it enough for Tesla — the company that reported only 2 profitable months in over 10 years — to break even? As of now, the company has accumulated $6 billion in losses and will most certainly generate some more in the foreseeable future.Trade now