Tesla Is Surging After An Awesome Earnings Announcement
Tesla is up 8% to $209. 40. It also hit a record intra-day high of $215.21.
The stock surged after hours on Wednesday after the company unveiled its 2014 deliveries forecast and beat Q4 earnings expectations.
Tesla sees weekly production rates rising to 1,000 Model S vehicles from 600. It expects more than 55% vehicle delivery growth in 2014 and sees production at 7,400 vehicles in the first quarter.
Before the earnings announcement was published, the stock appeared to get a nice bump on speculation that Apple would buy Tesla. On Thursday evening, Musk confirmed to Bloomberg TV's Betty Liu that he was talking with Apple but would not say if it was about an acquisition. But he did say Tesla is "very unlikely" to go on sale.
Deutsche Bank's Dan Galves downgraded the stock to 'hold' from 'buy' on valuation, but raised his price target to $220 from $200.
The stock is up 40% year-to-date.
Here's a look at Tesla's five day chart:
