Insights

Why Tesla stock bounced ahead of earnings

Investors are looking forward to record results from the electric vehicle leader.
The post Why Tesla stock bounced ahead of earnings appeared first on The Motley Fool Australia. –

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

What happened

While Tesla (NASDAQ: TSLA) stock has been a big winner over the last year and a half, it’s actually down about 6% year to date, underperforming the overall market. That is one reason investors are awaiting the company’s second-quarter results due after the closing bell today. That anticipation has Tesla shares trading about 3% higher Monday, as of 1 p.m. EDT.

So what

The leading electric car company’s second-quarter earnings report comes on the same day that a closely watched potential rival began trading publicly. Lucid Motors, which expects to deliver its first luxury electric sedans later this year, is now listed on the Nasdaq stock market. But for today, investors are focused more on what Tesla will say later this afternoon.

Now what

Tesla’s second-quarter report comes after the company previously announced it produced more than 206,000 vehicles in the three months ended June 30. That’s more than twice the 82,272 vehicles the company manufactured in 2020’s second quarter. Analysts think that large increase helped the company generate record revenue and profits in the second quarter.

Expectations are for revenue to soar to about $11.4 billion, compared to $6 billion in the year-ago period. The average analyst estimate is for profit of $1.20 per share, according to data from MarketWatch.

Tesla investors will also be watching how Lucid will perform once it ramps up production. The Lucid Air sedan is expected to be the first electric vehicle to provide a range of more than 500 miles, and could potentially challenge Tesla’s Model S domination of the high-end electric car market. But for today, the upcoming financial report this afternoon is what investors are looking forward to.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post Why Tesla stock bounced ahead of earnings appeared first on The Motley Fool Australia.

Should you invest $1,000 in Tesla right now?

Before you consider Tesla, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Tesla wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of May 24th 2021

More reading

Zip share price falls, Pilbara Minerals flies. And the BHP share price gets a Tesla bounce. Scott Phillips on Nine’s Late News

Bitcoin gains after Musk, Wood, and Dorsey spruik the crypto

The 2 best shares to hang your hat on: fund managers

ASX investors were buying GameStop (NYSE:GME) shares last week

Why Tesla slipped Thursday

Howard Smith owns shares of Lucid Motors. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Tesla. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!