Tesla shares jump ahead of the report; Investors Eye Factories, Cybertruck

Tesla shares jump ahead of the report;  Investors Eye Factories, Cybertruck

Musk has promised an updated product roadmap. Some investors expect timeframes for the launch of Cybertruck and a hoped-for $25,000 electric car.

Shares of Tesla Inc TSLA.O rallied on Wednesday in front of the electric vehicle producer’s quarterly report after the bell, with investors focused in on how rapidly the organization can scale creation at new factories.  The main EV creator’s stock added practically 5%, lifted to some extent by a recuperation in development stocks across Wall Street. In front of Tesla’s report, Chief Executive Officer Elon Musk tweeted that he has been driving a model of Tesla’s forthcoming Cybertruck electric pickup truck around the organization’s manufacturing plant in Austin, Texas, saying, It’s marvelous.

Tesla has weathered the global supply chain crisis better than other automakers, and analysts on average expect December-quarter revenue up 53% to $16.41 billion and adjusted earnings per share of $2.32, according to Refinitiv.

Analysts have said Tesla’s two new factories in Texas and Berlin eventually could double production capacity, but it is not clear whether Tesla has started production.

Caught up in a broad selloff of growth stocks, Tesla’s stock has fallen about 23% from its record high close in November, and it is down 10% so far in 2022.

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