Tesla Just Missed Delivery Estimates. Here's Why It's Time To Buy
Tesla (NASDAQ: TSLA) is the largest and most widely followed electric vehicle (EV) company, so it should not be a surprise that its stock moved on its latest quarterly vehicle delivery report. What is surprising is which direction it went.
Shares dropped after the EV trailblazer reported third-quarter production and delivery results. Rather than bailing due to the lower-than-expected deliveries, investors should focus more on what the reaction means for the stock and what the underlying business is doing. That might change some sellers' minds.
Tesla reported a quarterly record with almost 344,000 vehicles delivered. Investors expected more and the report triggered a sell-off in the stock. That reaction was despite the fact that those deliveries were 42% higher than the prior year period, and a 35% jump over the prior quarter. But none of those numbers are really what's important for long-term investors.
Source Fool.com
