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Tesla +6% after Q2 profit sets it up for S&P 500 inclusion

Jul. 22, 2020 4:37 PM ETTesla, Inc. (TSLA) StockTSLABy: Clark Schultz, SA News Editor436 Comments
  • Tesla (NASDAQ:TSLA) trades higher after posting higher automotive revenue than analysts expected and recording a Q2 profit. That makes four quarters in a row of profit and could lead to a S&P 500 inclusion based off the index requirements listed below.
  • Back to Q2, automotive margin arrived at 25.4% of sales, just a slight dip from the Q1 mark of 25.5% and higher than last year's mark of 18.9%.
  • The EV automaker says it posted free cash flow of $418M during the quarter.
  • Tesla says it is still targeting delivering 500K vehicles in 2020 and anticipates that Tesla Semi deliveries will start in 2021.
  • "We believe the progress we made in the first half of this year has positioned us for a successful second half of 2020. Production output of our existing facilities continues to improve to meet demand, and we are adding more capacity. Later this year, we will be building three factories on three continents simultaneously."
  • Shares of Tesla are up 6.03% AH to $1,688.39 vs. the 52-week trading range of $211.00 to $1,794.99. Of course, it is all relative with Tesla up more than 60% over the last month.
  • Previously: Tesla beats on revenue (July 22)

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