Tesla stocks have recently taken an upward turn, with a 26% rise in the past week and an impressive 75% increase since touching rock bottom in April. The main propellant being the company’s delivery figures surpassing anticipations.
However, despite delivering 444,000 cars in the second quarter, which is a descent from the 466,000 in the corresponding quarter of the previous year, the company’s figures cannot be labelled as favourable. Continual fall in global sales for two successive quarters, even in the face of intense price slashes and budget-friendly financing schemes, bear evidence to this. Although the 439,000 estimation was exceeded, it should be noted that if compared with the company’s previous low phases, Tesla’s current numbers would not have been up to the mark just a short while back.
Analysts are presently projecting an earnings per share (EPS) of $2.55 for Tesla in 2024, marking a decline of 25 per cent from 2023.
Though Tesla will be announcing its earnings on July 23, it’s the massively publicised Rrobotaxi event, scheduled for 8th August, which is drawing more attention.
While some enthusiasts, including Wedbush’s Dan Ives, view Tesla as the most underpriced Artificial Intelligence asset in the market, sceptics perceive it as the most overpriced automaker in the market.