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

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


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...