Tesla Goes On A Tear: Up 17%

Tesla was up 15% to $US154.81 earlier today. Tesla is now up 17.6% to $US157.87.

Shares surged after-hours on Wednesday after Tesla’s Q2 earnings report beat expectations.

The company reported Q2 profit of $US0.20 per share, on revenue of $US405 million. This beat expectations for a loss of $US0.19 per share, on revenue of $US387.9 million.

Goldman Sach’s Patrick Archambault has since raised his six-month price target to $US95 from $US84. But he thinks at today’s price, the stock is expensive, even in their most optimistic scenario.

Here’s a look at Tesla’s intra-day chart:

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