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Tesla: EV’s market giant reports its Q2 earnings
Information is not investment advice
What will happen?
Tesla, the world's largest EV’s manufacturer, will present its earnings report for the second quarter on July 26 after the stock market closes (23:00 GMT+3). Tesla’s management will hold a live question and answer webcast at 00.30 MT, July 27 to discuss its financial and business results and outlook.
What to expect?
On July 2, 2021, the company released its vehicle production and deliveries report. The number of delivered vehicles grew up by 14.5% quarter to quarter. Financial analysts set $11.53 billion as a target revenue for Q2, which is 10% more than it was reported in Q1. According to these numbers, we can suggest that Tesla can outperform the analysts’ expectations, which will pump its stock price.
After the Q1 earnings report, Tesla’s stock prices dropped by 3.5% as the numbers were weaker than expected. In Q2 investors are waiting for the strong results to appear.
We have already mentioned Tesla’s stock in our EV's market overview. Let’s look closer now!
The price is trading between the $630 and $700 range since June 23. Those are the main long-term support and resistance levels respectively.
In the short-term good earnings report can direct the price to the $660 level. If the price breaks this resistance level it will head towards 700$ per share.
On the flip side, lower than expected report can drop the price down to $630 and $600 support levels.
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