Why Tesla Stock Stalled Today
Tesla (NASDAQ: TSLA) is expected to publish its second-quarter delivery figures any day now, and investors are getting nervous about those numbers. This skittishness was reflected in the stock's performance on Thursday; it closed the day nearly 2% lower, against the under 1% decline of the S&P 500 index.
The second quarter wasn't easy on a great many companies, and Tesla wasn't spared that unease. The hardest blow came from across the Pacific where coronavirus restrictions and lockdowns hobbled production at the company's Shanghai gigafactory. Meanwhile, Tesla's manufacturing in general was affected by the supply chain difficulties currently plaguing industrial companies throughout the world.
Recently, a clutch of analysts have revised their estimates for Tesla deliveries in the quarter. It's a common belief among that crowd that the electric vehicle (EV) maker's numbers will be notably lower than the highs posted in trailing quarters.
Source Fool.com
