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July 11, 2020, 2:31 p.m. EDT

Tesla stock tops $1,500 to end at record

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Shares of Tesla Inc. /zigman2/quotes/203558040/composite TSLA -3.11% on Friday surged 11% to close at a record $1,544.65 as some investors bet demand for the Silicon Valley electric-car maker’s vehicles remains strong despite diminished prospects for car sales overall amid the coronavirus pandemic.

The shares traded as high as $1,548.92.

Tesla is scheduled to report second-quarter results in two weeks on July 22 , with some believing the company could report a fourth consecutive GAAP profit and thus be eligible to enter the S&P 500 index /zigman2/quotes/210599714/realtime SPX -0.80% , which would bring it to thousands of index-tracking funds as well as earn it even more attention from actively managed funds. Analysts surveyed by FactSet, however, see Tesla posting a GAAP quarterly loss of $1.34 a share on sales of $4.8 billion.

/zigman2/quotes/203558040/composite
US : U.S.: Nasdaq
$ 1,374.39
-44.18 -3.11%
Volume: 8.46M
Aug. 11, 2020 4:00p
P/E Ratio
715.27
Dividend Yield
N/A
Market Cap
$264.37 billion
Rev. per Employee
$439,627
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/zigman2/quotes/210599714/realtime
US : S&P US
3,333.69
-26.78 -0.80%
Volume: 2.90B
Aug. 11, 2020 5:08p
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