Tesla jumps 8% to record high after Elon Musk email shows optimism around a profitable 2nd quarter (TSLA)
On Monday, Tesla CEO Elon Musk sent an email to employees that indicated the company might break even in the second quarter. Shares of Tesla surged as much as 8% Tuesday to an intraday all-time high of $1,087.50. Tesla's second quarter delivery numbers are expected sometime this week, ahead of the Fourth of July weekend. Watch Tesla trade live on Markets Insider. Read more on Business Insider.
Shares of Tesla jumped as much as 8% to an all-time intraday high of $1,087.50 Tuesday after a leaked email from CEO Elon Musk showed optimism that the company could break even in the second quarter. "Breaking even is looking super tight. Really makes a difference for every car you build and deliver. Please go all out to ensure victory!" Musk wrote in a Monday email to employees. The email was first reported by Electrek. Tesla is expected to report its second quarter vehicle deliveries sometime this week, ahead of the Fourth of July weekend. Read more: We spoke with 3 financial experts, who said to make 4 these trades right now to get ahead of surprising gains when earnings season starts next month Tesla's stock price has been on a searing rally this year, hitting multiple all-time highs. On Tuesday, its market capitalization reached roughly $201 billion, putting it closer than ever to the $214 billion market value of Toyota, the highest-valued automaker in the world. In the first quarter of the year, Tesla reported stronger-than-expected vehicle deliveries and a surprise profit even though it dealt with factory closures in China due to the coronavirus pandemic. Since, its US factory was also shuttered in April due to a local shelter-in-place order. Tesla resumed production at the US factory in May, defying the local shelter-in-place orders. Tesla has gained roughly 157% year-to-date. Join the conversation about this story » NOW WATCH: What makes 'Parasite' so shocking is the twist that happens in a 10-minute sequence