The best quarter in Tesla’s history was Q4 2023 when it delivered over 484K. The stock momentum was helped by an overall surge ahead of the August 8 announcement of Tesla’s RoboTaxi efforts.
Elon Musk and company have pinned their hopes on expanding outside of the core car business into a self-driving competitor to UBER and Cruise.
Reuters
The Tesla stock They went up by third consecutive day this Wednesday, accumulating gains of 26.2% in the week and almost eliminating its 2024 loss.
The rise is due to Tesla’s second-quarter vehicle production and delivery numbers, which beat analysts’ expectations on Tuesday, as reported by Ambit. Today, Elon Musk’s firm’s stock climbed another 6.5% to accumulate a positive balance in the last 30 days of almost 40% and in the session it was quoted at US$247.36 per share.
And Tesla’s total deliveries reached 443,956 vehicles in the second quarter, with a total production of 410,831 vehicles during the periodAnalysts had expected deliveries to reach 439,000 in the quarter ended June 30, according to a consensus of estimates compiled by FactSet StreetAccount.
Tesla: Market projections
In a note on Tuesday, Citi analysts said they anticipate a “favorable stock price reaction” after publication. “From here, the focus will turn to Tesla’s second quarter auto gross margins to assess the price versus cost equation,” they added, also noting the importance of any future updates from the company on product launches.
Tesla Stock Forecast
So far, this has been the best week for Tesla (TSLA) shareholders since the third week of January, and it’s only Wednesday.
Tesla stock last five days.png
Experts expect Tesla to surprise on the upside in the second quarter. While the numbers continue to show that Tesla demand has flattened over the past 18 months, The data was much better than the environment prior to its publication.
The best quarter in Tesla’s history was Q4 2023, when it delivered over 484K. The stock’s momentum was helped by an overall surge ahead of the August 8 announcement of Tesla’s RoboTaxi efforts.
Elon Musk and company have pinned their hopes on expanding outside of the core car business into a self-driving competitor to UBER and Cruise.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
