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Tesla Q3 deliveries topped expectations

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Miguel A. Rodriguez
Miguel A. Rodriguez
05 October 2020
Tesla shares plummeted despite good Q3 figures

Despite the rally that it had during the pandemic, the market wasn't impressed with Tesla's #Q3 earnings.  

In the past quarter, Elon Musk's company managed to deliver 139,300 vehicles – this marking a 56% increase compared to last year's figures. Analysts were looking for 137,000 delivered units. Besides the growth reported in the number of units sold, the company's total production also increased. Compared to last year same time, the production went up 81.7% to 145,036 from the previous 79,837 units.

According to #Elon Musk's statement, the company's goal is to sell roughly half of million cars this year, or 40% more than last year. 

Despite the promising figures, the market is unsure of the company's capacity to shed some light on its long-term goals. After the news, Tesla stock price fell more than 7%. However, year-to-date, the stock price is up 396%.

See what makes the market move on CAPEX.com!

 Sources: tipranks.com, marketwatch.com 


This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.