Tesla Inc (NASDAQ:TSLA) shares rose in premarket trading on Monday as it preps to release the all-important second-quarter deliveries.
The Elon Musk-led company is widely expected to provide an update on its quarterly sales ahead of the market open on Tuesday.
Bar Set Way Lower: Consensus estimate shared by fund manager Gary Black puts deliveries at 440,000 units for the second quarter. If the number proves accurate, Tesla is all set to report its second straight quarter of year-over-year sales decline. A year ago, the company produced 479,700 cars and sold 466,140 units.
The whisper number — an unofficial number floating around on the Street — is far less at 420,000 (a 10% drop), Black said.
“There's a decent chance of an upside surprise on Tues, especially if we get another 17.5K weekly registrations out of China,” he said in a post on Friday. His optimism is also premised on the last two days of the quarter being over the weekend, which can ...