Tesla stock (NASDAQ: TSLA) hit an intraday all-time high again, dealing a sharp, painful blow to the company's short-sellers. On Friday, the manufacturer's shares reached $907.14 per share, delighting their investors.
Tesla shares are back in the spotlight as they hit a new all-time high for the first time since January. On January 25, 2021, the stock reached $900.4, and today, in the intraday, reached $907.14 per share. At the time of this writing, the stock is trading at $905.12 per share.
Along with the rise in the manufacturer's share value, its market capitalization also increased, amounting, at the time of this writing, to a whopping $906.5 billion, surpassing the $900 billion mark for the first time. Thus, Tesla is worth more than the eight most expensive automakers in the world, including Toyota, Volkswagen, Daimler, General Motors, NIO, Ford, BYD, and China's Great Wall combined. When the stock hits $998 per share, Tesla will hit $1 trillion and officially become the first car company in the world to ever reach that milestone.
The stock rally began after Tesla reported an impressive 241,300 deliveries in 3Q 2021. However, the rally was very active after the company reported financial results that significantly exceeded forecasts.
Cash
Operating cash flow less capex (free cash flow) of $1.3B in Q3
Net debt and finance lease repayments of $1.5B in Q3
In total, $164M decrease in cash and cash equivalents in Q3 to $16.1B
Profitability
$2.0B GAAP operating income; 14.6% operating margin in Q3
$1.6B GAAP net income; $2.1B non-GAAP net income (ex-SBC1) in Q3
30.5% GAAP Automotive gross margin (28.8% ex-credits) in Q3
© 2021, Eva Fox | Tesmanian. All rights reserved.
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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.
