Tesla's Stock Tumbles After They Miss Delivery Estimates By A Mile AGAIN
CNBC- Tesla disappointed investors Wednesday, announcing that it delivered 90,700 vehicles during the fourth quarter — short of Wall Street forecasts despite its efforts to ramp up production. Tesla also said it boosted production during the quarter, churning out 86,500 vehicles, up from 80,142 during the third quarter. The electric car maker’s shares fell by more than 9 percent in morning trading. “Tesla shares tend to a have a lot more noise and volatility than most, but we think investors who are willing to take a longer-term view of the story will be rewarded handsomely and continue to believe Tesla is on track to post one of the market’s most robust year-over-year earnings increases in 2019,” said CFRA analyst Garrett Nelson. The company also announced that it’s cutting prices on all of its models by $2,000 to help offset a reduction in federal tax credits for drivers who buy electric vehicles. The $7,500 federal tax credit for Tesla cars was cut in half as of Tuesday.
Happy New Year mother fuckers! The more things change, the more they stay the same. The Elon Musk beats roll on into the new year. Oh you thought Elon Musk was gonna get his house in order in 2019 and have Tesla running like a well-oiled machine? Think again! You were wrong. Dead wrong. Tesla missed delivery projections AGAIN. This happens so often that it’s starting to feel like Deja Vu. Elon Musk has been getting all this positive press and it was starting to look like he’s a competent human being after all but then the car company he brags about all the time completely whiffs on actually getting cars to people who want them. It’s hilarious.
And sure, you could say the reason Tesla missed their delivery projections is because they had so many orders, that’s fine, but that just alludes to a different problem. A billion dollar company with a billionaire CEO should have a better grasp on how their product is going to perform in a given quarter. They should never be so blindsided by orders that they fail to deliver them on time. Tesla talks and talks and talks about how their cars are the very best but then are like, “Whoa whoa whoa! So many people want these cars! What gives??” They either need to have confidence in their cars and their ability to deliver them on time or set the bar super low and be less confident. They can’t have it both ways.