$TSLA Be educated Bears to be wealthy. Here is some food for your atrophied brains:
Tesla Stock: China Appears to be "Comeback Kid" - Ives Brennan Ertl and Rob MaurerJul 2, 2021
With a record quarter for production and deliveries, will TSLA stock climb higher? The market's reaction has been muted in early trading, fading off session highs near $700.
Initial Reactions
Among the first to react to Tesla's report was Wedbush analyst Dan Ives. Shortly after the numbers were released, Ives pointed to Model 3 and Model Y deliveries coming in ahead of expectations and believes China is returning to strength.
Gene Munster of Loup Ventures also shared his thoughts on Tesla's report on Twitter — "delivery numbers are further evidence the company's entering the growth segment of its S-Curve."
Munster notes that Tesla's year-over-year growth has been accelerating in recent quarters. "In plain English, something bigger is going on, which we believe is the combination of consumer readiness for EVs, along with Tesla’s value proposition."
Looking to the second half of the year, Munster believes Tesla will exceed Wall St. consensus estimates.
In Q1 and Q2, Tesla faced supply chain challenges and limited Model S and Model X production as the company worked through a significant design refresh. Tesla was able to deliver back-to-back record quarters despite the challenges, which Elon Musk highlighted in a congratulatory tweet following the delivery announcement.
Tesla will likely continue to set new records in Q3 and Q4 as production continues to ramp up and Model S/X volumes resurface.
For Tesla Daily's delivery report recap: Click Here
What did you think about Tesla's delivery number? Let us know on Twitter, @teslapodcast.
Disclosure: Rob Maurer and Brennan Ertl are long TSLA stock and derivatives.