Tesla stock (NASDAQ: TSLA) plunged dramatically in after hours trading Wednesday.
Starting the day off at $243 per share at the opening bell, the automaker’s stock dropped to $229/share by 5 p.m. Eastern. Tesla’s Quarter 3 delivery numbers caused the 5.7% plunge. But here’s the kicker: Q3 2019 was Tesla’s best quarter ever. So what are investors thinking?
“We have a shot at achieving our first 100,000 vehicle delivery quarter, which is an incredibly exciting milestone for our company!”
That email warmed markets up, and Tesla stock jumped more than 5% that day. The 100,000 figure represents a major psychological milestone. With 95,000 Teslas delivered in the record-setting second quarter of this year, it did look within reach.
Tesla Delivers 97,000 New Cars in 2019 Q3
But when the numbers came out Wednesday, Tesla’s 97,000 new car deliveries seemed disappointing. That’s despite the fact that this was Tesla’s…
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Author: Wes Messamore