Has The Future Changed That Much For Tesla Motors?
After the close on Wednesday, Tesla Motors, Inc. (TSLA) reported a surprising profit beat for Q113 that sent the stock soaring in the two trading days after the report. The stock that closed Wednesday regular trading at $55.79 soared to touch $81 on Friday. Did the earnings news, while encouraging considering the history of missing earnings estimates, actually change the direction of the profit picture for the company?
The leading developer of electric vehicles has been on a roll in the last couple of months with the stock soaring from $35 in mid-March to gain more than 130% by mid-day Friday. The bullish move all started when CEO Elon Musk famously tweeted about a profitable quarter and the stock has exploded ever since that day.
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