Yet in the second quarter of 2020, Tesla delivered 91,000 vehicles about 5% fewer than the same period last year. So how is the massive recent jump in its market value justified
In fairness, it shows resilience to sell this many cars when the company's main California plant was shut by the pandemic for much of the spring period. https://www.alpesprobois.fr/products/coque-jordan-samsung-galaxy-a5-2016-709pascher10933 Doubtless, Tesla's new Shanghai plant picked up the production slack, which suggests the expense and effort of getting that China factory up and running was worth it. The launch of Tesla's new Model Y crossover vehicle iphone 7 custodia surphy will have helped. Custodia Cover iphone 11 pro max radiohead logo Z3286 Case Ford Motor Co. coque samsung Custodia Cover iphone 11 pro max Batman and joker Z4867 Case and General Motors Co. Custodia Cover iphone 11 pro max Continental Logo Carbon L3060 Case deliveries decline by a third in the same quarter.
Nevertheless, Tesla's stock market custodia cover samsung s9 plus acolytes pushed the shares up another 8% on Thursday, adding $16.5 billion to the market value. coque huawei Such exuberance is hard to understand. Musk's company sold 7,650 more vehicles than analysts expected during the second quarter, and the stock price jump equates to about $2 million of added shareholder value for each of those additional sales. This seems a little excessive given that a Tesla Model 3 sells for less than savfy® custodia full body samsung galaxy s7 $40,000, and the profit margin on those cars is pretty slim.
The shareholder reaction makes even less sense when you consider that Tesla investors iphone 8 cover tech 21 aren't really meant to buying the stock because of the company's current sales, which are less than 4% of Volkswagen AG's. cover custodia case iphone 11 X3576 umineko wallpaper 66gB7 Rather, the investment case is a long term one: that it will come to occupy a dominant position in clean transport and energy in the years ahead. cover iphone 11 homer simpson That explains why the shares trade at 320 times its analyst estimated earnings this year. cover custodia case iphone 11 C8062 dbz wallpaper 17gF4 https://www.alpesprobois.fr/products/coque-iphone-7-overwatch-715pascher2057 Viewed through this lens, Tesla's ability to shift a few thousand extra cars custodia samsung s 9 in recent weeks shouldn't matter so much for the valuation.
Investors' tendency to overreact to Tesla news made more sense when its survival was open to doubt. https://www.aquawood.fr/products/coque-samsung-j5-once-upon-a-time-709pascher6170 sales were slowing and its retail strategy was confused. coque iphone https://www.alpesprobois.fr/products/coque-samsung-galaxy-s-advance-709pascher2240 Senior staff kept heading for the exit. https://www.alpesprobois.fr/products/coque-custodia-cover-fundas-iphone-11-pro-max-5-6-7-8-plus-x-xs-xr-se2020-c25918-metroid-samus-aran-5-iphone-11-case The company was burning through cash and ran pretty low on financial fuel. It had just $2.2 billion of cash in March 2019, compared with more than $8 billion now.
But subsequent evidence that Tesla can sell cars for more than it costs to produce them has transformed the mood and with it Tesla's stock price.
Instead of "killing" off Tesla, custodia tech21 iphone 7 the tepid electric offerings of established carmakers such as Audi and Mercedes custodia cover huawei mate 20 have only cover iphone custodia cover iphone 11 5s book underscored the quality of their rival's battery and powertrain technology (the same can't be cover cellulari roma said of Tesla's build quality). coque samsung https://www.alpesprobois.fr/products/coque-custodia-cover-fundas-iphone-11-pro-max-5-6-7-8-plus-x-xs-xr-se2020-c28117-pachuca-futbol-club-1-iphone-11-pro-max-case Volkswagen's software problems custodia a portafoglio iphone 7 with its forthcoming ID.3 electric vehicle suggest catching Tesla won't be straightforward, even with the Germans' vast resources.
Tesla's stratospheric valuation appears to have become self reinforcing. https://www.alpesprobois.fr/products/coque-originale-pour-samsung-s8-709pascher13556 Should it require more money to fund its roughly $9 billion custodia iphone ralph lauren of capital expenditure over the next three years, it can raise it from shareholders without worrying about diluting them too much.
Similarly, holders of more than $4 billion of convertible bonds that Tesla custodia silicone iphone 6 originale issued to fund its expansion should be happy to convert them into stock, rather than demand cash repayment, taking some of the pressure off the company and its balance sheet.
Still, Tesla's valuation remains cover originale iphone impossible to justify by custodia samsung galaxy j5 (2017) any standard metrics. Analysts' average price target is more than 40% below the current custodia per cellulare samsung s3 mini cover samsung galaxy note 5 level.