Tesla Q2 Sales Seen Strong On Record-Breaking Deliveries, But Bitcoin Slump Flashes Caution Sign

SourceForbes
SectorFinancial Markets
CountryMiddle east

Getty Images

Getty Images

Key Takeaways:

EV maker announced highest ever deliveries in Q2
Investor concerns include chip shortage, competition, and bitcoin value decrease
Strong EV demand in China, but does that include Teslas

TSLA
?

Tesla (TSLA) announced record-breaking electronic vehicle (EV) deliveries in Q2 and has continued to outproduce competitors in the midst of a global microchip shortage. But it’s been a bit of a rough ride for the pioneering EV’s share price as competitors rev their engines.

 Another concern is a slump in the value of bitcoin. TSLA shares have plunged more than 23% since it disclosed on Feb.

8 that it had purchased $1.5 billion in bitcoin, the decentralized digital currency, now held on its balance sheet. A recent crypto plunge took bitcoin below $30,000 this week (from a high of around $65,000 in mid-April).

Investors and analysts will likely be listening for the latest on competition, supply chain and labor...read more...