Tesla shares surge on fifth consecutive quarter of profits
Shares in electric vehicle maker Tesla have surged higher after the company reported third-quarter results that beat analyst estimates.
- Tesla reported earnings of 76 cents per share against an estimated 56 cents per share.
- The company also reported revenue of $8.77 billion against an expected $8.26 billion.
The company, led by Elon Musk, also reported that it delivered 139,300 vehicles during the last quarter while reporting record operating income. This is now the fifth consecutive quarter of profit for the company and CFO Zachary Kirkhorn said they are going for 500,000 deliveries in 2020.
In the last quarter, Tesla completed a five-for-one stock split, helping the company to raise more than $7 billion. While a stock split does not change the company's valuation, it does help smaller investors to buy the stock as the price of one share lowers.
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How to trade Tesla shares with Admiral Markets UK Ltd
If you are feeling bullish or bearish on the price of Tesla's share price you can speculate on its price direction using CFDs. To get started, follow these five simple steps:
- Log in to your existing Admiral Markets trading account, or open a live or demo trading account in just a few minutes.
- Click Trade on your chosen account which will direct you to the Admiral Markets MetaTrader Web Platform.
- Type in Tesla, or another instrument, at the bottom of the Market Watch search box and then drag the symbol onto the chart.
- Use the one-click trading feature on the chart or right-click on select Trading -> New Order.
- Choose your entry, stop loss and target levels and position size (volume) and then confirm the trade.
Source: Admiral Markets MetaTrader 5 Web, #TSLA, Weekly - Data range: April 20, 2014, to October 22, 2020, performed on October 22, 2020, at 6:53 am BST. Please note: Past performance is not a reliable indicator of future results.
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