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?

They’re thinking 100,000. On September 26th, a leaked Elon Musk email set expectations for 100,000 Tesla deliveries in Quarter 3. That email to Tesla employees said:

“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

Tesla Historical Deliveries (Vehicle Sales) by Quarter. | Source: Tesla, CleanTechnica

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


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