TESLA ROCKETS INTO PROFITABILITY. eMUSK, THE WIZARD OF ePOWERED VEHICLES, MAY SLEEP BETTER NOW.

• TOO FAST A GROWTH CAUSES A CASH FLOW CRUNCH AND SUBSEQUENT BUDGET DEFICIT. 
• IT DOES NOT MEAN THAT THE BUSINESS IS BAD, IT MEANS THAT A LONG TERM INVESTMENT IS SECURED.
• WHEN ALMOST NO AUTO MAKER IS HEALTHY TODAY, NOT BAD FOR A NEWBORN, SHOWING THE WAY.

Tesla’s stock soars after company posts surprising 3Q profit

Oct. 23, 2019 at 2:23 pm Updated Oct. 23, 2019 at 2:28 pm

 1 of 2 | In this Sunday, Oct. 20, 2019, photo an unsold 2019 Model X sits under a sign at a Tesla dealership in Littleton, Colo. Tesla reports... (AP Photo/David Zalubowski) More 

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The Associated Press

The Associated Press

SAN FRANCISCO (AP) — Tesla posted a surprising profit of $143 million in its latest quarter, raising hopes the electric car pioneer may finally be turning the corner after posting mostly losses during its first decade as a publicly held company.

The positive results announced Wednesday came after Tesla lost $1.1 billion during the first half of the year. That had caused many investors to lose faith in the company even as it boosted sales of its vehicles.

Doubts about Tesla forced its stock to fall by 23% so far this year, while the bellwether Standard & Poor’s 500 index has climbed 20% so far. But Tesla’s shares recovered much of those losses after its third-quarter numbers came out, soaring by more than 18% to $301.05.

The Associated Press