Tesla, Inc. (TSLA) has been a focal point in the stock market, with its recent robotaxi event and quarterly deliveries drawing significant attention. As of October 10, 2024, the stock price of Tesla stands at $238.77 USD, reflecting a slight decrease of -0.95% in the past 24 hours.
1. Market Performance
The current market performance of Tesla is influenced by various factors, including the company's recent financial reports and upcoming events. The stock has experienced a 32% gain in the third quarter, which has contributed to its overall market capitalization of $796.87 billion USD.
Tesla's Q3 deliveries are expected to drive further strength in the stock. Investor's Business Daily and Yahoo Finance have highlighted the potential impact of these deliveries on the company's stock price.
2. Robotaxi Event
The launch of Tesla's robotaxi marks a significant event for the company. Elon Musk has hailed this as the future of transportation, and analysts are closely watching the event to gauge its impact on the stock price.
However, some analysts remain cautious about the robotaxi event. Truist has stated that it is unlikely to be a positive catalyst for the stock, highlighting potential skepticism surrounding Tesla's autonomous vehicle technology.
3. Financials
Tesla's financials have been under scrutiny, with the company reporting a net income of $1.48 billion USD in June 2024, representing a -45.32% year-over-year change.
The company's revenue has also seen a 2.30% year-over-year increase, reaching $25.50 billion USD in June 2024. Despite this, Tesla's operating expenses have risen by 12%, reaching $2.39 billion USD.
4. Market Cap and P/E Ratio
Tesla's market capitalization stands at $796.87 billion USD, making it one of the world's most valuable companies. The company's price-to-earnings (P/E) ratio is 71.48, indicating a high valuation relative to its earnings.
The high P/E ratio suggests that investors are optimistic about Tesla's future growth prospects, despite the company's recent financial challenges.
5. Investor Sentiment
Investor sentiment towards Tesla remains mixed. A recent Benzinga poll showed that 42% of respondents would trust Elon Musk to turn $1 into $2, while 33.9% would trust Warren Buffett.
However, some analysts have expressed skepticism about Tesla's autonomous vehicle technology and economic prospects, leading to conflicting sentiments among investors.
