Tesla (NASDAQ:TSLA) Stock Advances
Tesla Motors' Success is Frustrating Electric Car Doubters
Although I personally do not own shares of Tesla (NASDAQ:TSLA), I was certainly pleased to see the stock getting rewarded this morning after the company reported Model S production had risen to 100 cars per week at the end of the quarter, and was now up to 200. Tesla reps also stated that they expect production to hit 400 per week by the end of the year.
This is a pretty far cry from the five cars per week Tesla was pumping out back in July.
Now for Q3, Tesla's loss did widen to $110.8 million from $65.1 million one year prior. The loss was also higher than analysts' estimates. Still revenue climbed 16 percent to $50 million. Analysts were expecting $48.3 million.
Revenue outlook for 2012 remains unchanged at between $400 million and $440 million.
I'm sure we'll still see a pretty steady stream of anti-Tesla pieces from the same handful of analysts who seem to hate electric cars more than nazis, but for one day, I will enjoy the simple fact that for Q3, Tesla impressed. And knowing that this is probably really pissing off all those electric car doubters – well, that's just a little added bonus.