Articles about Tesla’s share price aren’t the same as pieces about other company’s stocks. There is a mission that many TSLA owners get behind, other than the objective of earning money. They want to see the company sell so many electric cars, that they single-handedly achieve utopia, and dethrone big oil once and for all.
Good news for those Tesla bulls, the company’s stock price has achieved a new high today, at over $1,087 per share. That’s nothing new, as Tesla constantly surges past expectations, and makes headlines for doing so.
However, when we look a little closer at what this means, we find an important objective right below the surface of this information. CEO Elon Musk sent out his usual company-wide email, urging employees to work extra hard as the quarter comes to a close with the end of June.
Breaking even is looking super tight. Really makes a difference for every car you build and deliver. Please go all out to ensure victory!
Even though he seems to do this every quarter, especially as Tesla has struggled to turn a profit until the past year, this email seems extra crucial. The reason? Tesla could become eligible for inclusion in the S&P 500, if only they break a profit.
The terms in question are the stipulation that a company must has four profitable quarters. Tesla now has three, and they are the last three. With Covid really putting a damper on things, this could be the fourth quarter that Tesla breaks even, and it could make them an S&P contender.
The Standard & Poor’s index is of course the most highly recognized collection of publicly traded companies around. Inclusion on the index would be a major milestone for Tesla, and even if it were only symbolic, would be a massive moment for the company and its controversial CEO.