Tesla jumps 8% to record high after Elon Musk email shows optimism around a profitable 2nd quarter (TSLA)


Shares of Tesla jumped as much as 8% to an all-time intraday high of $1,087.50 Tuesday after a leaked email from CEO Elon Musk showed optimism that the company could break even in the second quarter. 

“Breaking even is looking super tight. Really makes a difference for every car you build and deliver. Please go all out to ensure victory!” Musk wrote in a Monday email to employees. The email was first reported by Electrek.

Tesla is expected to report its second quarter vehicle deliveries sometime this week, ahead of the Fourth of July weekend. 

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Tesla’s stock price has been on a searing rally this year, hitting multiple all-time highs. On Tuesday, its market capitalization reached roughly $201 billion, putting it closer than ever to the $214 billion market value of Toyota, the highest-valued automaker in the world.

In the first quarter of the year, Tesla reported stronger-than-expected vehicle deliveries and a surprise profit even though it dealt with factory closures in China due to the coronavirus pandemic. Since, its US factory was also shuttered in April due to a local shelter-in-place order.

Tesla resumed production at the US factory in May, defying the local shelter-in-place orders. 

Tesla has gained roughly 157% year-to-date

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Source: businessinsider
Tesla jumps 8% to record high after Elon Musk email shows optimism around a profitable 2nd quarter (TSLA)