OMG – Electric vehicle giant Tesla Inc! smashed 2020 Q2 earnings estimates.
Here were the main results from Tesla’s Q2 report, compared to consensus estimates compiled by Bloomberg: Revenue: $6.04 billion vs. $5.4 billion expected vs. $6.35 billion Y/Y. GAAP earnings per share: 50 cents, vs. GAAP loss per share of $1.06 expected and GAAP loss per share of $2.31 Y/Y.2 mins ago
The stock of the electric vehicle company is now up 4% aftermarket. This is WOW!!!… This is not just about Q2 Earnings, but about Tesla finally sitting next to the big boys!.
Tesla will be finally added to the S&P 500!.
What Does This Mean?
It means Tesla will finally be added to the S&P 500, and the price is very much likely to stay around this level if everything were already priced in, or we may see the price of the stock finally hit the psychological $2000 level, and hit the price target of $2,300 set by Piper Sandler analyst, Alexander Potter.