Will the Tesla Magic Continue? 🚗

Will the Tesla Magic Continue?

Tesla will announce its third quarter earnings this week, and the investing world will be looking to see if the company can continue its incredible year. The company’s stock has grown more than 400% making it the second-best performer in the S&P 500. All that hype adds a significant amount of pressure to this earnings report.

Investors will be watching a few different things Wednesday that could swing the company’s stock price. Tesla has already announced significant increases in vehicle deliveries from the previous quarter and a 53% increase from the same quarter a year before. A big part of Tesla’s growth this year has been the excellent performance of the Model Y, its most affordable vehicle yet. Eventually, the Model Y is expected to become Tesla’s bestselling vehicle as the company’s electric cars become accessible to a wider range of consumers.

With all these positive indicators what could cause Tesla’s stock to drop on earnings this week? The company’s high expectations are part of the reason its price has climbed so much this year, and if performance does not align with the ambitious goals, a price dip will surely follow. The 500,000-car delivery goal that was set earlier this year is still achievable, but Tesla will need a monster final quarter to pull it off.

If investors have learned anything this year, it is that Tesla should not be doubted. Check in Wednesday to see if the amazing year will continue.

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.

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