Tesla (TSLA) Earnings Preview for July 22, 2020
Shares of Tesla (TSLA) continue to rebound into earnings after a massive $365 drop from $1795. All eyes are now on earnings which will set the tone into the Battery Day event on September 22nd.
Tesla (TSLA) already announced deliveries of 90,650 vehicles in Q2 despite the Fremont, CA plant being shut down for nearly two months. If the company can report a fourth consecutive profit, they should finally be added to the S&P 500. The inclusion into the S&P alone could propel the stock significantly higher but I suspect a lot of big funds already took a position.
Wall St. analyst's are expecting the average numbers below:
EPS - (-$0.71) loss
Sales - $5.14 Billion
Any large beat will light a torch under the stock again. If the company can deliver almost 91,000 vehicles during stressful conditions and a partial shutdown, imagine what they will report in Q3 2020. Tesla (TSLA) is about to start a massive growth cycle with new products coming to market in 2021. All pullbacks remain a strong buy and that is what I plan to do if we see any downside below $1200-$1300.
