Tesla sets a new record for electric vehicle sales and fulfills the quarterly plan - Kakiforex.com - Financial Market Media No. 1 in the World Tesla sets a new record for electric vehicle sales and fulfills the quarterly plan Tesla sets a new record for electric vehicle sales and fulfills the quarterly plan
InstaForex

July 10, 2021

Tesla sets a new record for electric vehicle sales and fulfills the quarterly plan

 Last Friday, Tesla published a report stating that it delivered 201,250 vehicles in the second quarter. Analysts have long presented different forecasts, but many agreed that the company will overcome the milestone of 200 thousand vehicles. Over the past two years, this is the highest sales figure. Naturally, most of the electric cars sold were budget brands Model 3 and Model Y. More than 199 thousand such cars were sold. Thus, Tesla fulfilled the quarterly target and found a way out of a difficult situation with a shortage of semiconductors on the market. According to the statements of representatives of the company itself, the plan for 2021 is 750 thousand cars. According to the results of two quarters, Tesla has already sold 386 thousand, so it can finish this year exceeding the forecasts and expectations of the market. However, the markets reacted to this positive news very cautiously. Tesla shares are starting to look more and more like bitcoin, which can rise or collapse down by 10% on a single Twitter post from Elon Musk. For example, Tesla shares rose by 3.5% last Wednesday on the back of the news that the SpaceX's Starlink division is going to IPO. The company Starlink, which is engaged in the deployment of high-speed satellite internet, will now be able to attract investments for its own development. Also, Tesla shares rose by 5% after the announcement of the opening of a charging station that will run on solar energy in the Tibet Autonomous Region.


It is clear that investors welcome the success of other companies of Elon Musk and his breakthroughs in the fields of space research, satellite internet, and other innovations. But at the same time, Tesla shares practically do not react to news about their own performance. It should also be noted that in recent weeks, two other high-tech companies Apple and Microsoft have shown the strongest growth in value. Meanwhile, Tesla limited its growth to $692 per share and failed to update its maximum value from April 14. It is quite possible that investors are still afraid of the shares of the company of the odious billionaire and do not understand what impact bitcoin will have on the company's activities. On the one hand, Tesla is constantly expanding production, as well as increasing sales. On the other hand, it is unclear whether Tesla has got rid of its bitcoins, whether it is going to sell electric cars for cryptocurrency again, and what else can we expect from Elon Musk in the field of cryptocurrencies. It's no secret that many stock investors do not want additional risks, and Tesla shares have recently become more risky than Apple or Microsoft shares.


The illustration above clearly shows that Tesla shares have fallen below the Kijun-sen line, which now allows us to wait for their fall to continue to the Senkou Span B. Although, a fairly strong growth was noted in the last trading session. However, Tesla shares are not as attractive as the shares of other technological monsters right now. Investors are afraid to buy them in the same mode that was in 2020, when the shares rose 8 times.