Tesla stock revs up after first profitable quarter
Tesla celebrating the production of the 1,000th Model S car in October 2012.
(Credit: Tesla)
Tesla’s stock is on a roll following the electric car company’s blockbuster first quarter.
As of about 9:15 a.m. PT Thursday, shares had already risen almost 25 percent in trading, reaching close to $ 70 apiece.
Investors were clearly geared up by Tesla’s first-quarter results, in which the company reported a profit of $ 11 million, its first time in the black since it launched 10 years ago. The company also witnessed an 83 percent jump in revenue, which hit $ 562 million.
Some Apple talk may also have aroused investor interest.
