Tesla Sets a Date for First Cybertruck Deliveries, but Don't Expect Volume Production for a While
(NASDAQ: TSLA) shares dropped on Thursday. Investors were spooked by CEO Elon Musk's pessimistic tone during the company's third-quarter earnings call about the current high-interest-rate environment's impact on demand for auto loans. Further, Musk tried to temper expectations about how quickly the company can ramp up production of its new all-electric truck.
But not all news in Tesla's Thursday update was bad. The company's war chest of cash continued to grow and it reaffirmed its guidance to build around 1.8 million vehicles this year. Tesla also said its fast-growing energy business is becoming its highest-margin segment.
Though Musk warned that the production ramp up for Cybertruck will be difficult, the electric-car company finally put a date to an event in which it will deliver the first units.
Source Fool.com
Tesla Inc Stock
Currently there is a rather positive sentiment for Tesla Inc with 56 Buy predictions and 27 Sell predictions.
As a result the target price of 248 € shows a very positive potential of 51.85% compared to the current price of 163.32 € for Tesla Inc.
