Surprisingly, Tesla Shares Flat for the Week

By Douglas A. McIntyre Updated Jan 13, 1:45AM EST · Published Oct 30, 9:11AM EDT

Follow 24/7 Wall St. on Google

This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Surprisingly, Tesla Shares Flat for the Week — © Thinkstock

After news about earnings and new solar panels for homes, Tesla Motors Inc.’s (NASDAQ: TSLA) shares managed to close the week flat at $200.

What happened?

According to The New York Times:

The electric carmaker Tesla Motors said on Wednesday that it earned $22 million in the third quarter, its first profitable period since 2013, raising expectations for the success of its expansion plans.

The company’s chief executive, Elon Musk, said in a letter to investors that the results reflected improvements in vehicle production, the addition of new stores and a steady increase in market share for its luxury models.

“We were able to have our best quarter ever, and we are heading toward a great fourth quarter as well,” Mr. Musk said in a conference call with analysts.

Tesla reported revenues for the quarter of $2.3 billion, more than double the results in the comparable period last year. The company said it delivered nearly 25,000 vehicles to customers in the quarter.

[nativounit]

And home solar panels, Tesla founder CEO made some comments ahead of a merger between his company and Solar City. According to The Wall Street Journal:

Elon Musk wants to make solar-roof panels as sexy as his electric luxury cars.

Mr. Musk, who is chairman of both Tesla Motors Inc. and SolarCity Corp., laid out in broad strokes his vision for how his proposed merger of the two companies would result in an integrated system of solar panels, wall-mounted batteries and electric cars.

“People always think of Tesla as an electric-car company, but really the whole point of Tesla was to accelerate the advent of sustainable energy,” Mr. Musk said on a stage at Universal Studios in Los Angeles surrounded by houses outfitted with glass solar tiles roughly the size and shape of roofing shingles.

“The goal is…to make solar roofs that look better than a normal roof, generate electricity, last longer, have better insulation and an installed cost that is less than a normal roof plus the cost of electricity,” he said.

One would think with all that action, the shares would have gone somewhere.

[wallst_email_signup]

About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.