Tesla shares jump after Musk predicts Q3 profit and positive cash flow


Tesla shares rose 2.4 percent Friday as traders discovered the Musk comment. However, it was unclear if Musk was saying anything new, given the company’s previous statements.

Tesla said on Feb. 7: “As we ramp production of both Model 3 and our energy products while keeping tight control of operating expenses, our quarterly operating income should turn sustainably positive at some point in 2018.”

And the company said last week it did not require an additional capital raise this year apart from credit lines.

“Tesla continues to target a production rate of approximately 5,000 units per week in about three months, laying the groundwork for Q3 to have the long-sought ideal combination of high volume, good gross margin and strong positive operating cash flow,” the company stated in an April 3 statement. “As a result, Tesla does not require an equity or debt raise this year, apart from standard credit lines.”

Tesla did not immediately respond to a request for comment.

Source link

Products You May Like

Articles You May Like

Markets are going haywire. Here’s why these sudden moves are here to stay
How can one US company block another in China?
Ascena Retail, Stitch Fix and more
Lance Armstrong says his investment in Uber ‘saved our family’
‘Trade wars are bad for tech stocks’

Leave a Reply

Your email address will not be published. Required fields are marked *