What’s Up With Tesla Stock?

What’s Up With Tesla Stock?

So, Tesla (TSLA) just dished out its earnings report and it beat out analysts’ estimates, and the electric car company more than doubled deliveries for the quarter. In summary, revenues and production look good for TSLA.

So, what happened?

After the quarterly earnings call, the stock plunged some 4-5%, when typically, a stock should gap up on good news….

That recent Model S crash, in which two people died when the car struck a tree and burst into flames, the firemen having to call Tesla to know how to put out the ongoing flames coming from the battery. Elon Musk criticized law enforcement and authorities, saying the self-driving autopilot was not to blame. Maybe, the stock tumbled on this negative news.

And maybe there is speculation that the microchip shortage that has been worldwide has affected Tesla’s production, and that maybe production could have been better. But Elon Musk admitted the microchip shortage was a problem.

Right now, NASDAQ futures are in the green, so hopefully there will be a reversal of what happened today.

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randomguru

Portfolio Manager & Musician

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