1/8/2024 0 Comments Q3 tesla deliveries![]() Information on these pages contains forward-looking statements that involve risks and uncertainties. The stock is above the 9-day moving average and has consolidated from the spike above $780. Tesla remains bullish in our view from the chart. Now, this delivery data may cause a sudden flip. Notice how the market was skewed with puts being considerably more expensive. ![]() From the previous write-up: "An $830 call for October 8 costs around $4, and a $735 put for the same expiry is around $16.". The breakout should finally see Tesla make and break $800 and once through there the next resistance and volume does not kick in until $900! We had been expecting some volatility and mentioned a strangle options play to take advantage of any surge higher or lower. We have been waiting for this one, and we can see from the triangle pattern formed that Tesla stock has been like a coiled spring waiting to explode. Legacy car manufacturers have been blaming this chip shortage recently for poor delivery numbers, and noted Tesla bull Cathie Wood of ARK Invest tweeted strong support for Tesla's performance by comparison. RBC was moved to increase its price target slightly from $745 to $755. This data is even more impressive when you consider the semiconductor crunch that has affected most car makers globally. Wall Street analysts had expected deliveries of 229,242, so this was a comfortable beat. Tesla (TSLA) delivered 241,300 vehicles in the quarter, which was an increase of 73% YoY and making it the sixth straight quarter of delivery growth. After asking staff to go "super hardcore" it looks like Elon Musk and his team have delivered with Q3 deliveries hitting a record. Getting straight into those delivery numbers, the headlines certainly look positive. ![]() Probably not surprising when all traders were waiting for the Q3 delivery data from Tesla, and these were duly released on Saturday.Īverage Wall Street Rating and Price Target Tesla took life easy on Friday with the stock barely changing on the session at all, eventually closing at $775.22 for a tiny loss of -0.03%. Tesla delivery data should be the catalyst for a move higher.TSLA stock is still stuck in a consolidation phase.Tesla stock closes the session on Friday barely changed on the day.Tesla vehicle deliveries represent only one measure of the company’s financial performance and should not be relied on as an indicator of quarterly financial results, which depend on a variety of factors, including the cost of sales, foreign exchange movements and mix of directly leased vehicles. Final numbers could vary by up to 0.5% or more. Our delivery count should be viewed as slightly conservative, as we only count a car as delivered if it is transferred to the customer and all paperwork is correct. Our net income and cash flow results will be announced along with the rest of our financial performance when we announce Q3 earnings. We would like to thank our customers for their patience as we work through global supply chain and logistics challenges.Īnd there's this additional note, as well as a disclaimer, which indicates the actual results may be a bit higher: In the third quarter, we produced approximately 238,000 vehicles and delivered over 240,000 vehicles. Hopefully, this will again lead to another profitable quarter for Tesla.
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