Tesla Shares Are Down Despite Super-Charged Outlook
Tesla Motors (NASDAQ:TSLA), the California-based manufacturer of high-performance luxury electric vehicles, came forth yesterday with some disappointing news: the company had incurred a $75 million dollar loss for the fourth quarter.
Listening to their CEO, though, you probably wouldn’t have been able to tell. ”Due to an enormous amount of hard work by a really dedicated group of people at Tesla, we’re going to be profitable, and I think that’s a pretty big deal,” said Elon Musk, on a call with analysts. Although the stock took a tumble, losing $0.65 per share, sales were up to $306 million, ahead of estimates.
The company also announced that it planned to turn the loss around and post a slight profit for the current quarter.
Tesla has recently completed the setup necessary for production of the Model S, its flagship luxury sedan. The company said that the majority of investment injections have been made, and now it can get down to focusing on product execution and turning a profit…