Breaking News: Tesla Stock Falls Over 3% After Q3 2024 Delivery Report | What Does This Mean for Investors?
Tesla (NASDAQ: TSLA) shares took a hit on Wednesday, dropping more than 3% following the company's announcement of Q3 2024 delivery numbers. Tesla reported delivering 462,890 vehicles during the quarter, slightly in line with expectations. The electric vehicle giant also produced 469,796 vehicles, with the majority being Model 3/Y vehicles.
Analysts had mixed reactions to Tesla's delivery report. While some believed that the numbers met expectations, others were disappointed that the company didn't exceed them. The weak European demand was offset by strong performance in China, according to Oppenheimer.
Attention is now turning to Tesla's upcoming AI Day on October 10, where the company is expected to showcase advancements in robotaxis and humanoid robots. Despite challenges earlier in the year, analysts remain optimistic about Tesla's ability to hit its full-year target of 1.8 million deliveries. The company's Q3 earnings call on October 23 will provide further guidance.
Overall, analysts anticipate some short-term pressure on Tesla's stock due to the delivery results. However, they remain bullish on the company's long-term prospects, especially in AI and autonomous driving technologies.
In conclusion, while Tesla's stock may face some turbulence in the near future, the company's focus on innovation and growth opportunities makes it an exciting investment for the long run. Stay tuned for more updates on Tesla's performance and future developments in the coming months.