- Tesla Inc. reported a record profit of $1.14 billion for the second quarter, a significant jump from $104 million a year ago. The electric car maker also saw a revenue increase to $11.96 billion, up from $6.04 billion last year.
- In response to the strong financial results, Tesla’s stock price rose by more than 2% in after-hours trading, hitting $677.35 per share. The company’s market capitalization now stands at over $640 billion, making it one of the most valuable automakers in the world.
- Tesla’s CEO, Elon Musk, recently announced plans to open the company’s first European Gigafactory in Berlin, Germany. The factory is expected to produce both batteries and vehicles, boosting Tesla’s presence in the region.
Read more at Barchart: Dear Tesla Stock Fans, Mark Your Calendars for July 23