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Tesla's drive to S&P 500 isn't powered by car sales alone

Carbon credit deals boost company to fourth straight quarter of profits

Tesla defies naysayers -- for now.   © Reuters

TOKYO -- Tesla added more to its market capitalization than the entire valuation of Nissan Motor in a few hours Wednesday after announcing a fourth straight quarter of profits, avoiding a disappointing earnings result that could have triggered a broad sell-off in global stock markets. 

The surge added roughly $18 billion to Tesla's market cap, which was already the highest among global automakers.

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