Tesla’s stock in record territory after fourth-quarter deliveries top forecast
Shares of Tesla Inc. spiked higher into record territory Friday, after the electric vehicle maker reported deliveries that rose above Wall Street’s expectations.
The stock was trading well above its Dec. 26 record close of $430.94 and its all-time intraday high of $435.31 reached on Dec. 27. That pushed 2019 deliveries up to 367,500 vehicles, which was 50% above the 2018 total, in line with Tesla’s guidance range of 360,000 vehicles to 400,000 vehicles and above the FactSet consensus of 361,000 vehicles.Tesla said the delivery count should be considered “slightly conservative,” as vehicles are counted as delivered only after they are transferred to the customer and all paperwork is correct. The company said the final figure could vary by up to 0.5% or more.
“Looking ahead, a major part of the Tesla growth thesis is around China as the flagship Shanghai Giga 3 build out is ahead of schedule and remains the fuel in the engine for the overall China bull thesis, which combined with healthy underlying consumer demand in this key region should be a catalyst in FY20 and beyond,” Ives said.
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