Tesla’s Mighty Year – Quarterly Deliveries Increase After Price Cuts 📈

Tesla’s Mighty Year – Quarterly Deliveries Increase After Price Cuts

Throughout the first quarter of 2023, it has seemed last year’s immense struggles in tech companies have, on the majority, turned their situations around and have excelled greatly. The Nasdaq Composite, an index that tracks several publicly traded tech stocks, has risen an astonishing 17.35% year-to-date, following their 2022 loss of over 30%. On a more magnified scale, the same has been true for Elon Musk founded EV manufacturer Tesla, which has universally changed the tides of their shareholder sentiment. Just this year, shares of Tesla have soared over 80% after their stock plunged nearly 65% for the previous year. Although Tesla is still down 50% from their all-time high in November of 2021, they are on track to continue to retrace several losses made last year, especially from its most recent production successes.

To begin the new year, Tesla controversially slashed the prices of several of their car models to both bolster demand and remain competitive in the saturating electric vehicle market. Recently, Tesla CEO Elon Musk announced positive news revolving around their car deliveries, pointing directly toward the actions made to lower prices. In the first quarter, Musk reported Tesla delivered 422,875 vehicles across the globe, beating last year’s first-quarter deliveries by over 35%. Although this is less than the projected 432,000 cars, several have marked it a tremendous feat amidst the cooling car market and slow consumer growth. Nevertheless, investors should focus on Tesla’s official earnings report for the first quarter, which will come in two weeks on April 19th.

Want to learn how to invest? Download the Invstr app, where you can play Fantasy Finance and manage a virtual investment portfolio or open a brokerage account and invest for real. Take our interactive investing course on Invstr Academy and become a better investor today!

I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.

Share:
More Posts
OPEC’s Decision 🛢

OPEC leaders just hosted an important late-November meeting that may signal a change in strategy.

Get your daily Invstr Crunch

Get the market news and updates you need, delivered to your inbox or available on our daily podcast.

Risk Disclosure:

Invstr is not a bank and banking services are provided by Vast Bank, N.A.

Brokerage and Banking services are currently only available to U.S. residents.

Invstr app and web services are provided by Invstr Ltd. Advisory services are provided by Invstr Financial LLC, an investment adviser registered with the Securities Exchange Commission (SEC) details of which can be obtained here. Securities brokerage and custody services are provided by Apex Clearing, a broker dealer registered with the SEC and a member of FINRA and SIPC. There is no bank guarantee on securities and securities may lose value.

Investing involves risk and can lead to losses. Past performance does not guarantee future results.

Invstr app and web services are provided by Invstr Ltd. Invstr+ advisory services are provided by Invstr Financial LLC, an investment adviser registered with the Securities Exchange Commission (SEC). Securities brokerage and custody services are provided by Apex Clearing, a broker dealer registered with the SEC and a member of FINRA and SIPC. There is no bank guarantee on securities and securities may lose value. Vast Bank N.A. a nationally chartered bank and member of the FDIC, provides the banking products, including the products and services related to digital asset accounts. As with any asset, the value of Digital assets can go up or down and there can be a substantial risk that you lose money buying or holding digital assets. You should carefully consider whether trading or holding Digital assets is suitable for you in light of your financial condition. Your digital account does not support wallet to wallet transferring of your digital assets (i.e. cryptocurrencies) outside the platform. Any Digital Assets in your digital asset account are not insured by any government entities, including but not limited to FDIC or SIPC. The Invstr Visa® Debit Card is issued by Vast Bank, N.A. pursuant to a license from Visa U.S.A Inc and may be used everywhere Visa debit cards are accepted. Invstr Ltd, Invstr Financial LLC and Invstr Securities Ltd are subsidiaries of Marketspringpad Holdings (collectively “Invstr”) and Invstr is solely responsible for the application services and website content.

Watchlists provided when users first access the service are not a recommendation to invest. Instead they are provided to help users better navigate the service. Users are free to edit and create their own watchlists. From time to time, Invstr will suggest instruments solely based on an individual’s interest and the interest levels of the Invstr community. The statistical and portfolio builder models generated by Invstr do not reflect actual investment results and are not guarantees of future results. Comments provided by Invstr leaders, influencers or members of the Invstr Community are not recommendations and should not be construed as such. Invstr does not endorse the content or the positions posted by them. Their investment approach, and that of the models provided by Invstr, may be different from yours and may not be appropriate for you.