Why Tesla shares are faltering heading into Q3 earnings

, previously closing down 3% at $251.12, a trend that continued in pre-market trading. Still up slightly more than 100% for the year, investors are anxiously looking ahead to the earnings Tesla will report Wednesday.

As the report edges closer, many investors, according to Morgan Stanley's Adam Jonas, are not feeling very positive about the quarter.Dojo and Tesla's self-driving; a further delay in the full production and mass delivery of the new Tesla model, Jonas said, could cause another round of price cuts, something that is feeding the negative sentiment around the stock.

Last year, a Tesla Model 3 started at $48,000. Now, the same vehicle is available for less than $40,000. Allison Dinner/Getty Images"The price war in China is a high stakes poker game for Tesla as so far the 'volumes over margin' thesis has worked well to gain market share," Wedbush analyst Dan IvesIves noted that the price war, alongside gross margins, will be a"major focus" for Tesla's outlook post-earnings., will fall to 17.

"We agree with the consensus that the performance of Tesla stock following the print will likely be driven by comments on the forward outlook," Jonas wrote.Stocks edge higher, Tesla, Powell in focus, Pfizer slumps, Taylor Swift shines, Lululemon enters S&P 500 - 5 Things To Know

Source: News Formal (newsformal.com)

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Former Twitter employee's legal action last volley after Elon Musk's controversial takeover of companyA former Twitter — aka X — employee filed legal action through the U.S. National Labor Relations Board, alleging that she was fired in retaliation for challenging the company.
Source: FoxBusiness - 🏆 458. / 53 Read more »

Rachel Maddow Interview: Host on MSNBC, Elon Musk, Twitter, HollywoodThe MSNBC host on her lack of boundaries, Elon Musk’s destruction of Twitter and the cultural whiplash of working in Hollywood: “You hear ‘yes’ 400 times before ‘yes’ matters.”
Source: THR - 🏆 411. / 53 Read more »

Elon Musk Adds Enthusiasm to Crypto Community With His New 'Hold' TweetTwitter boss spurs enthusiasm of crypto community, including XRP army
Source: Utoday_en - 🏆 295. / 63 Read more »

Elon Musk’s X Courts Political Advertisers Ahead of a Contentious Election YearMusk’s volatile leadership of the social-media platform has pushed down its prices—which might give it an edge
Source: WSJ - 🏆 98. / 63 Read more »

Why the Giants Will Beat Buffalo, Why They Won’t, and a PredictionThe banged-up Giants are facing yet another difficult challenge in primetime. Can they at least keep this team more competitive?
Source: startelegram - 🏆 248. / 63 Read more »

Over 300,000 EVs Sold In The U.S. In Q3, Tesla Market Share Drops To 50%Battery-electric vehicles accounted for 7.9% of all new cars sold in the U.S. during the third quarter
Source: Carscoop - 🏆 306. / 63 Read more »