Tesla's Solid Q2 Delivery Report Sent Elon Musk's Stock Down 6%. What Happened?
Seemingly good news didn't boost the stock as one might have expected. Just don't read too much into the market's response.
Overview
By all accounts, the stock should be up. Deliveries and production of its electric vehicles (EVs) were both up sequentially and year over year, handily topping analysts' expectations.
Yet Tesla (NASDAQ: TSLA) shares tumbled on Thursday after its report showed it delivered 480,126 EVs during the three months ending in June while also manufacturing 451,758 automobiles. Most analysts were only looking for deliveries of a little over 400,000.
Data source: Tesla. Chart by author.
Details
Source
Originally published at www.fool.com.
Related Articles
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.