Tesla Beat Delivery Estimates by 74,000 Vehicles -- and the Stock Had Its Worst Day in Nearly a Year. Here's Why.
How does a company crush its own sales target and get punished for it?
Overview
Tesla (NASDAQ: TSLA) just posted its strongest second-quarter deliveries in its history, and shareholders responded by knocking about 7.5% off the stock in a single session -- its worst day in nearly a year. On Thursday, the electric-car maker said it delivered 480,126 vehicles in the second quarter, up 25% year over year, about 74,000 more than the 406,000 or so analysts had modeled.
By any normal reading, that is a blowout. So why did the stock fall so hard?
Tesla Cybercab. Image source: Tesla.
Details
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Originally published at www.fool.com.
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