Tesla Sees Massive Stock Boom As New Milestone Is Hit

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Tesla has been having some strange times for 2020. One of the more notable moments is when Elon Musk, in a very enigmatic move, managed to shave off millions of his company’s stock price after he tweeted that the price was “too high” in his opinion. On the other side of the spectrum stands its current performance, with second-quarter earnings managing to exceed the expectations of Wall Street. The US-based electric vehicle company has managed to post four consecutive profit reports.

Close To Listing

With its latest profit warning, the company now needs only to find itself a place within a market index that aggregates the performance of the biggest 500 US companies’ stock prices.

As one would imagine, the S&P stands as one of the most-followed indices of equity within Wall Street, and stands as the most accurate representation of the US stock market. With its second-quarter profit, Tesla managed to see a 4.4% uptick in its stock price. The electric automaker has gone on record, stating that it had earned an impressive $104 million as net income between the months of April and June. The remarkable part about the matter, is that Tesla managed to post four straight quarters of profit as the world at large is being wracked with an ongoing pandemic.  With this massive achievement, Tesla has managed to prove that it is capable of leading the vehicle manufacturing industry into a new, electric-motored future.

Humble Beginnings With Great Success

In the span of a year, Tesla managed to see a 500% increase in the stock price as investor sentiment went all the more bullish. This is due to the company’s potential inclusion within the S&P stock index. eToro, a copy-trading hub, has seen a massive demand for Tesla’s shares, in particular. Entire droves of people have gone towards the “Copy People” section to copy professional Tesla share trading strategies and moves, all in a bid to bring the highest returns possible.

Prioritizing Growth Over Profit

Marc Tarpenning and Martin Eberhard were the two co-founders of Tesla, back in 2003. The pair subsequently left the outfit in 2008. Elon Musk joined up with the business in 2004, has become the face of the company as time went on. As it stands now, Musk is the CEO of Tesla, and is enjoying all the benefits that would bring.

Musk has gone on record to view that the company will prioritize innovation and growth over profit margins. In an interview, he explained that cars aren’t really affordable in this day and age, something that he wants fixed. As such, his goal is only to be slightly profitable, maximizing affordable cars and growth instead.

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