Why Tesla Stock Raced Higher on Thursday

David L.kimmich

hat happened Tesla’s (NASDAQ: TSLA) share price rose on Thursday morning, and Wall Street analysts raced to provide increasingly optimistic forecasts for the electric vehicle company’s fourth-quarter “delivery.” As of 11:40 am Eastern Time, Tesla’s stock price has risen 3.7% from yesterday’s closing price.

So
As reported by TheFly.com, analysts at Royal Bank of Canada Capital yesterday predicted that when Tesla released its fourth-quarter sales data, it would show that the company sold 285,000 electric vehicles during the quarter—compared to the previous quarter. Quarterly growth of 18%, year-on-year growth of 58%.

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If the Royal Bank of Canada is right about this, Tesla’s final car sales will also be 8.6% higher than the Royal Bank of Canada’s initial forecast, and 6.7% higher than the “consensus” number of 267,000-but this is for Tesla investors. That is not the best news.

This morning, the investment bank Credit Suisse predicts that Tesla’s deliveries may be higher. According to CS, Tesla will deliver 290,000 electric vehicles in the fourth quarter.

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Even this is not the best news for Tesla investors.

As my fool Daniel Sparks pointed out earlier this week, Tesla is currently only 122,428 from achieving its self-set goal of delivering 750,000 electric vehicles in 2021. If Credit Suisse’s figures are accurate, Tesla will eventually sell 155,000 cars alone in December-achieving its internal goal in just one month instead of the three allocated.

In the final statement, CS confirmed Tesla’s CEO Elon Musk’s own observation that “Tesla’s demand far exceeds production.” As car buyers’ voices for cars become louder and louder, the current The only factor that hinders Tesla’s sales growth is Tesla’s limited ability to produce cars as quickly as possible if customers want to buy.

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