Tesla Reports Best Ever Quarterly Sales – Strong Future Guidance Makes Shares A Strong Buy
Shares of Tesla Motor Inc. soared strongly in the US morning session after the electric-car maker reported that its quarterly sales hit a record during the July through September period. The California-based company said 15,800 Model S sedans and 8,700 Model X sports-utility vehicles were delivered in the third quarter of 2016. Another 5,500 vehicles which were in transit to customers will be counted in fourth quarter results.
The auto-maker on Sunday reiterated strong guidance for the fourth quarter, and stated that sales and production during the fourth quarter shall be at levels similar to, or slightly better than the third quarter. In three months through September, Tesla produced 25,185 vehicles, which marked a 37% gain from the second quarter.
Tesla had previously stated that it expected to produce 50,000 vehicles in the second half of this year after missing projections by 30,000 vehicles during the first six months of the year.
Buy Stop at 213.00, Take profit at 215.60, Stop loss at 208.00