Investors and analysts have been cutting expectations as a result, but Tesla still managed to miss its delivery forecast for Q2. Namely, the company managed to deliver 254,695 vehicles, which is down 17.9% compared to the Q1 of 2022 when the company delivered 310,048. Meanwhile, the Founder and CEO of GLJ Research, Gordon Johnson, was a guest on CNBC’s Squawk Box, and he pointed out that the Tesla bulls may be in trouble as the company is losing its product edge. He also added:
TSLA chart and analysis
Meanwhile, TSLA shares are trading in the range of $620 and $755, closing slightly above 20-day Simple Moving Averages (SMAs) in the last session. Trading volumes have declined compared to the highs seen towards the end of June, possibly indicating that the shares might remain range-bound. On the other hand, analysts rate the shares a moderate buy, with the average next 12 months price predictions at $867.41, 24.06% higher than the current trading price of $699.20. It seems as if Tesla is being bombarded by bad news week in and week out; yet, the shares are staying range-bound for the moment. On the other hand, Gene Munster, Managing Partner at Loupfunds, offered a contrasting view of Tesla during the same interview, indicating that Tesla is a disruptive company that focuses on cars and solar. He concluded: Increased scrutiny of Tesla vehicles and strong competition will bode well for the end-users of the products; however, for shareholders, it may spell trouble if the firm continues to disappoint on its promises. Buy stocks now with Interactive Broker – the most advanced investment platform Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
