Tesla shows excellent sales, Musk gives way

2 min read

During the last quarter, the most valuable American car manufacturer on the market was on a roller coaster. Tesla demonstrated significant results at the end of the quarter, providing 83,500 new vehicles in just 3 months. The price of the TSLA shares finally showed a rebound following the rapid but devastating period of depreciation. Tesla is currently trading for $ 301 per share. During the last 3 months, the company stock was traded between $ 379 and $ 263.

Only three months ago the company was engaged in the production of 5,000 3s models a week. Over 53,000 vehicles were produced in July, August, September.

The TSLA share price over the last 3 months

Elon Musk will no longer be the president of the company, as determined by the agreement reached with the SEC following allegations of price manipulation.

"We are very close to reaching the level of profitability and to prove that our detractors were wrong, but to be sure we have to show excellent results tomorrow (Sunday). If we give our best tomorrow, we will reach an epic victory, beyond all expectations, "Elon Musk said in his message to the company's employees.

Will it be enough for Tesla – the company that has only reported 2 months of profit in over 10 years – to compensate? So far, the company has accumulated losses of 6 billion dollars and will certainly generate more in the near future.

Source: Tesla calm fears with excellent results in sales

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Source: IQOption blog 2018-10-04 08:45:43


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