Tesla Q3 deliveries topped expectations

By: Miguel A. Rodriguez

15:58, 05 October 2020

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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%.

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 Sources: tipranks.com, marketwatch.com 


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