Breaking: Tesla Stock Price Estimate Jumps Dramatically After Hours On Profit Report
Tesla, Inc. reported its financial results for Q4 today after the 4:00 pm close of trading. Investors had been waiting for validation of the new high stock price and they got it. After hours valuation estimates shown by NASDAQ and Google have TSLA at about $650 per share, up significantly from the $580.99 closing price at the end of the trading day.
The news that Tesla was profitable in Q4 is hard to dismiss. However, some details of the report drew some skepticism. Marketwatch has a full overview o the reaction from a variety of stock analysts.
The big news is that Tesla has strung together back-to-back profitable quarters. If this continues, and if Tesla can maintain profitability regularly, it may become part of the S&P 500. Tesla has not been part of that average since it has not had four profitable quarters based on GAAP.
Tesla also had a strong forecast for delivery going forward. Tesla says it will deliver a half-million vehicles in 2020. Some of those sales will be the near-to-release Model Y crossover.
Watch Torque News / Tesla for more details on Tesla's stock price and opinions on its year ahead tomorrow after the market opens and prices TSLA.
Note: The Author is not a stock analyst and holds no individual stocks. Stock chart courtesy of NASDAQ and Google.
John Goreham is a life-long car nut and recovering engineer. John's focus areas are technology, safety, and green vehicles. In the 1990s, he was part of a team that built a solar-electric vehicle from scratch. His was the role of battery thermal control designer. For two decades he applied his engineering and sales talents in the high tech world and published numerous articles in technical journals such as Chemical Processing Magazine. John's work has appeared in print in dozens of American newspapers and he provides reviews to many vehicle shopping sites. You can follow John on Twitter, and view his profile at Linkedin.