Tesla revenue will be 'biggest' in history, says Tesla Bull

Tesla Inc. is expected to report fourth quarter results after the bell on Wednesday, and a known Tesla bull calls the report “one of the most important in history” for both the EV maker and the chief executive. Elon Musk.

You’re here

shares edged higher on Tuesday after a rally on Monday that took them to their highest close since Dec. 19.

See also: Tesla earnings preview: Price cuts take center stage as stock hovers around 2-year low

“After experiencing unprecedented hyper growth over the past few years in the electric vehicle market that was essentially created by Musk, Tesla now faces a darker macro in 2023 with fierce competition coming from all angles,” Wedbush analyst Dan Ives said in a note on Tuesday.

The FactSet consensus calls for Tesla to report fourth-quarter adjusted profit of $1.13 on sales of $24.7 billion. That would compare to an adjusted profit of 85 cents on sales of $17.7 billion in the fourth quarter of 2021.

“Adding to this backdrop is Musk who essentially went from a superhero with a red cape to a villain in the eyes of many investors after the ongoing Twitter fiasco cast a dark shadow over Tesla shares” , Ives said.

Musk testifies in a federal lawsuit around taking Tesla’s private tweets in 2018.

Leave a Reply

Your email address will not be published.