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Tesla isn’t a gurantee for the S&P 500 even with year of profits

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Tesla plans to report its second quarter results on Wednesday after the market closes, and all eyes are on the company’s bottom line this period. 

That’s because a fourth consecutive quarter of reported profitability on a GAAP basis would make Elon Musk’s electric car company eligible to join the S&P 500 index.

Speculation has mounted that the company will hit this milestone — a full year of reported profitability — since Tesla reported a record number of car deliveries earlier in July. Elon Musk fueled the rumors, sending an email to employees implying that there’s a chance the company will break even for the quarter.

Shares have jumped more than 50% this month alone — adding to…



Source cnbc.com

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