Tesla Bull Predicts Whopping 2.4M Deliveries In 2024, Defying Wall Street — Despite Musk Feeling Monthly Numbers Are 'Not Meaningful'
Portfolio Pulse from Anan Ashraf
Gary Black, a Tesla Inc (NASDAQ:TSLA) investor, predicts the company will produce 2.4 million vehicles in 2024, based on record production figures from Shanghai in November. This forecast exceeds Wall Street's estimate of 2.2 million. Despite this, Tesla CEO Elon Musk has stated that monthly production numbers are not meaningful due to the complexity of manufacturing batches for different regions. Tesla's global deliveries for November were 82,432 cars, a 14.3% increase from October.
December 12, 2023 | 8:49 am
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Tesla's record production in Shanghai and an investor's prediction of 2.4 million vehicles produced in 2024 could positively influence investor sentiment and potentially boost TSLA's stock price in the short term.
The prediction by Gary Black, based on strong production numbers, could lead to increased investor confidence and a more optimistic outlook for Tesla's future growth, potentially driving the stock price up. However, Elon Musk's comments on the irrelevance of monthly production figures introduce some caution, which is why the confidence score is not at the maximum.
CONFIDENCE 75
IMPORTANCE 85
RELEVANCE 100