Tesla Hits Record High on What Was Revealed in This Leaked E-mail

Shares of electric vehicle maker Tesla were soaring to a new record high this week after a leaked e-mail from CEO Elon Musk revealed that breaking even is looking possible in the second quarter.

Musk wrote to employees: “Breaking even is looking super tight. Really makes a difference for every car you build and deliver. Please go all out to ensure victory!”

Shares had surged on Tuesday after Wall Street learned of the e-mail and continued to head even higher on Wednesday to a new high of $1,135.33, making it the most valued car company, ahead of Toyota.

The e-mail also read, “Just amazing how well you executed, especially in such difficult times. I am so proud to work with you!”

Wall Street expects Tesla to deliver 72,000 vehicles for the period. Tesla is expected to report its second quarter vehicle delivery and production numbers after the bell on Thursday.

In the first quarter of the year, the company said it delivered around 88,400 vehicles including combined deliveries of 76,200 Model 3 sedans and Model Y crossover SUVs, and combined deliveries of 12,200 of the older and more expensive Model S and X vehicles. It produced a total of 102,672 vehicles.

It was not long ago that Musk had sent out an e-mail to employees urging them to “go all out” with vehicle production and delivers. He had said to them then that “breaking even is looking super tight.”

It’s not clear whether “breaking even” was referring to the company’s profit margin or another metric.

Tesla’s main manufacturing facility in Fremont, California, was shut down for more than a month due to the coronavirus pandemic. Musk had been in disagreement with officials over the restrictions and had re-opened the factory days before he would have received a green light from the county.

Disclaimer: We have no position in Tesla Inc. (NASDAQ: TSLA) and have not been compensated for this article.