Electric Car Stock Investor Alert; Tesla (TSLA) Gains Continue
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Point Roberts, WA , New York, NY - August 8, 2013 (Investorideas.com renewable energy stocks newswire) Investorideas.com staff: Investorideas.com, an investor research portal specializing in investing ideas in leading sectors including renewable energy stocks issues a trading alert for electric car stock Tesla Motors, Inc. (NasdaqGS:TSLA). Tesla is trading at $153.66, gaining $19.43 or 14.48% as of 11:17AM EDT on over 12.5 Million shares.
Yesterday the company reported second quarter results.
- Net income (non-GAAP) increased 70% from Q1 to $26M
- Record sales of 5,150 Model S vehicles in North America
- Gross margin of 22% (non-GAAP), despite significant reduction in ZEV credits
- On track to achieve Q4 gross margin of 25%, excluding ZEV credits
- Strong balance sheet with almost $750 million in cash and no government debt
- Primary focus is on expanding production to meet worldwide demand
Tesla Motors' (NASDAQ: TSLA) goal is to accelerate the world's transition to electric mobility with a full range of increasingly affordable electric cars. California-based Tesla designs and manufactures EVs, as well as EV powertrain components for partners such as Toyota and Daimler. Tesla has delivered more than 10,000 electric vehicles to customers in 31 countries.
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