Tesla (NASDAQ:TSLA) Earnings Will Continue Negative
In Q-2 of Y 2017, analysts expect the negative trend in Tesla’s (NASDAQ:TSLA) earnings to continue.
According to estimates, the company’s non-GAAP EPS for the Quarter will be -1.76, very much worse than TSLA’s reported EPS of -1.06 in the same frame in Y 2016.
Tesla also released its Q-2 of Y 2017 car delivery data during the 1st week of July.
TSLA’s car deliveries stood at 22,000, which suggested a Y-Y rise of 53% but a fall of 12% Q-Q. Due to this Quarterly decline, the company was only able to just meet the lower range of its guidance for 1-H of Y 2017.
Company CEO Elon Musk guided for the delivery of 47,000–50,000 cars in 1-H of Y 2017, and it could deliver 47,100 cars, typically Mr. Musk’s hype of his company’s production abilities missed, famously again.
That being the Key reason why Tesla stock turned negative in July.
On 31 July, Tesla stock settled at 323.47, breaking its 50-D MA at 334.41. and falling through its near term support, now 1st resistance is at 324.74. while a swing low to 313.98 could act as a minor support, a break there open the path to 296.53, then 243.94, triggering institutional stop losses. Thus leaving the retail speculators holding the empty bag.
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