Tesla (NASDAQ: TSLA) shares rose to a new all-time high on Tuesday June 30 after reaching more than $1,087 per share. At the time of writing the article, the share price has came back slightly at $1,080 per share, which represents a $200 Billion+ market capitalization at the time.
Tesla had countless challenges before reaching the current price level. Over the years, Tesla (NASDAQ: TSLA) stocks had very high volatility in value, testing the patience and stamina of the company's most ardent bulls. Nevertheless, the company reported three amazingly profitable quarters in a row, which undoubtedly inspired confidence in Tesla investor community even to those who previously doubted about the company.
Despite the impact of the coronavirus crisis, Tesla shows that there's a high possibility to be breakeven in 2Q 2020 or even a profitable quarter (maybe, we don't know and let's hope for the best). Perhaps this is precisely what triggered the 7% price increase during the trading session. Yesterday's email from Tesla CEO Elon Musk hints that the company can achieve a "Victory" quarter, but all employees should make every effort to do so.
"Breaking even is looking super tight. Really makes a difference for every car you build and deliver. Please go all out to ensure victory!"
Tesla also confirmed that the company will soon begins construction of a new plant in the United States, this shows that the company is actively expanding in all major markets in the world, including the US.
The construction of Giga Shanghai and Giga Berlin continues at a rapid pace, clearly ahead of the original schedules. The production of China-made Model 3 with various options and Model Y for the North America market are also ahead of the original schedules.
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Eva Fox holds zero share of Tesla, Inc., and currently (at the time of this article's publishing) holds zero options or securities in Tesla Inc. and/or its affiliates.
About the Author
Eva Fox
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.
