Key Events in the Life of Tesla (NASDAQ:TSLA)
Here are some of the key events in Tesla Inc’s (NASDAQ:TSLA) turbulent history as a public company.
June 29, 2010 – Chief Executive Elon Musk and team ring the Nasdaq opening bell as Tesla becomes the 1st car company to go public in the United States since Ford Motor Co in Y 1956.
May 8, 2013 – Tesla reports its 1st Quarterly profit. In October 2016, it reports its only other Quarterly profit to date.
May 4, 2016 – Musk surprises investors by announcing plans that are 2 years ahead of schedule to build 500,000 vehicles in 2018, about 6X its 2016 production level – and 1 million vehicles in 2020.
June 21, 2016 – Tesla announces its plan to buy Solar City, a solar energy system company in which Musk holds a stake, for $2.9-B
July 28, 2017 – Musk hands over the virtually hand made 1st Model 3s to employee buyers, announcing over half a million advance reservations for the new electric sedan starting at $35,000. Musk anticipates “at least 6 months of manufacturing hell.”
Nov. 1, 2017 – Tesla pushes back its target to build 5,000 Model 3s per week to Q-1 of Y 2018 from an original target of December due to “production bottlenecks” aka “production Hell.”
Jan. 3, 2018 – Tesla pushes back its production target for the M3 sedan for the 2nd time, now to the end Q-2 of Y 2018.
April 3, 2018 – Musk says Tesla will not need to raise more capital in Y 2018. Shares spike as much as 6.9%.
May 2, 2018 – Tesla shares slump after Musk cuts off analysts on a conference call asking about company finances, criticizing their “boring, bonehead” questions. Tesla loses $2-B in stock market value.
July 1, 2018 – Tesla factory workers produce more than 5,000 Model 3 sedans during the last week of June, hitting Musk’s goal.
Aug. 1, 2018 – Tesla reports its biggest-ever loss but shares rise on Musk’s claims of positive cash flow and profit in 2-H of 2018, and signs of more consistent M3 production.
Aug. 7, 2018 – Musk surprises investors by using Twitter to announce he is considering taking Tesla private at $420 per share, adding ‘420’ “Funding secured.”
|HeffX-LTN Analysis for TSLA:||Overall||Short||Intermediate||Long|
|Neutral (0.08)||Neutral (0.07)||Neutral (0.15)||Neutral (0.03)|