Watching Tesla; RBC Capital Markets Issues Note Headlined "Qtrly Delivery Tracking Causes Us To Lower Our Q2 Numbers"; Estimates Deliveries Of 410K In Q2, Down 23% Vs Prior Est Of 533K, 4.3% Below Consensus Based On Registration Data, App Downloads. Expects Tesla To Report Deliveries First Week Of July
Portfolio Pulse from Benzinga Newsdesk
RBC Capital Markets has lowered its Q2 delivery estimates for Tesla to 410K, down 23% from the previous estimate of 533K and 4.3% below consensus. This adjustment is based on registration data and app downloads. Tesla is expected to report deliveries in the first week of July.
June 25, 2024 | 2:50 pm
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RBC Capital Markets has reduced its Q2 delivery estimates for Tesla to 410K, a 23% decrease from the previous estimate of 533K and 4.3% below consensus. This revision is based on registration data and app downloads. Tesla is expected to report deliveries in the first week of July.
The significant reduction in delivery estimates by RBC Capital Markets is likely to negatively impact Tesla's stock price in the short term. The revised estimate of 410K is 23% lower than the previous estimate and 4.3% below consensus, indicating potential challenges in meeting delivery targets. Investors may react negatively to this news, leading to a short-term decline in TSLA stock.
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