This time last month you may recall the market value of Tesla Motors reaching a high of $19.9 billion following a surge in its stock prices. Well, the company has continued its rapid rise in value with stock prices recently reaching a high of $180!
By the end of the day, the stock price fell slightly to $177.92 yet that’s still an extremely impressive leap from its $170.80 opening.
Further compounding the growth of Tesla is that shares for the California-based company have risen around fivefold this year alone. This dramatic increase in the automaker’s value comes as no real surprise considering its sales figures for the second quarter of 2013.
The company pulled in an impressive 5,150 sales of the Tesla Model S electric sedan for the time period. That equates to around 1,700 Tesla Model S’ a month which puts it right in line with the Nissan Leaf and Chevrolet Volt despite its dramatically higher price tag.
Tesla Motors also announced that net income was up by an impressive 70% up to $26 million which equates to a gross margin of 22%. The American electric automaker hopes to see that figure increase to 25% by the fourth quarter of 2013. If Elon Musk’s ambitious plans for the Tesla Model S prove effective, then by the end of 2014, annual sales could exceed 40,000 after Tesla begins to enter Europe.