Tesla shares have underperformed the market over the past three months. Investors will be hoping the electric-vehicle maker’s Q3 earnings, coming after the...
) shares have underperformed the market over the past three months. Investors will be hoping the electric-vehicle maker’s Q3 earnings, coming after the bell on Wednesday, could rectify that situation.and Elon Musk “whisperer” Zachary Kirkorn have weighed on the stock. Tesla shares are down 9.5% over the past three months, whereas the broader S&P 500 of $0.74, translating to adjusted net income of $2.56 billion, which is nearly 30% lower than a year ago.
Investors will be hoping a “margin trough” occurred in the third quarter. “With the vast majority of price cuts now in the rear view mirror and the factory shutdowns/upgrades completed we believe gross margins should expand from these levels with 3Q marking a trough period,” Wedbush analyst Dan Ives said in a note., of which approximately 419,000 were Model Y and Model 3 vehicles and around 16,000 were higher-priced Model X and Model S cars.
Also in focus is the upcoming launch of the Cybertruck. Though Tesla had said a delivery event would occur in Q3, no event took place in the quarter. The company also said it would begin production of the Cybertruck later this year; an updated timeline for Cybertruck production is expected for the highly anticipated EV pickup.
“Cybertruck – very little enthusiasm on Tesla’s next model. Teething issues seen as perpetuating Tesla’s relatively stale model lineup,” Jonas wrote in a note, though adding, “If Tesla announced a launch event/start of production with 3Q results, this could be seen as positive for the stock.”Want a stellar long-term investment you can buy and hold for a decade? Keep your eye on the prize as this stock offers all that and more.
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