Tesla Falls After Stock Downgrade Ahead of Earnings
Investing.com
Published Jul 22, 2019 11:17AM ET
Updated Jul 22, 2019 03:03PM ET
Investing.com - Tesla (NASDAQ:TSLA) inched down in midday trade Monday after a downgrade ahead of its earnings report this week.
Roth Capital downgraded the luxury carmaker to neutral from buy due to risks from increasing battery costs and competition from other automakers.
“We expect the shares of TSLA to remain range bound until these issues are resolved," Roth’s Craig Irwin wrote in a note.
Tesla reports its earnings after the bell on Wednesday, with investors expecting a loss of $0.41 per share on $6.52 billion in revenue. Its deliveries forecast will also be closely watched to see if the company is still on track to deliver 360,000 to 400,000 vehicles this year as promised.
Tesla slipped 0.5% in midday trade.
Get The News You Want
Written By: Investing.com
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.