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CEO Elon Musk says Tesla will be profitable in Q3, doesn’t need to raise additional cash – Silicon Valley Business Journal

Tesla will be profitable and cash-flow positive in the third and fourth quarters, CEO Elon Musk said in an early morning tweet on Friday, rebuffing reports that the Palo Alto-based electric car maker will need to raise upwards of $2.5 billion this year to deliver on its promises.

Tesla shares jumped more than 3 percent ahead of the opening bell on Musk’s comment, which was in response to a story by The Economist magazine.



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