Musk: Tesla will be profitable before year's end

Tesla CEO says there's "no need" to raise cash.

Tesla CEO Elon Musk tweeted early Friday that the company will be profitable and cash-flow-positive in the third and fourth quarters of 2018.

"Tesla will be profitable & cash flow+ in Q3 & Q4," Musk tweeted, "so obv no need to raise money."

Musk was responding to an article in The Economist which claimed that Tesla would need to raise between $2.5 and 3 billion in 2018 in order to stay afloat.

The article referenced Musk's April Fool's bankruptcy joke, calling it "[...] uncomfortably close to the truth."