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Tesla Falls After Stock Downgrade Ahead of Earnings 

Published 07/22/2019, 11:17 AM
Updated 07/22/2019, 03:03 PM
© Reuters.

Investing.com - Tesla (NASDAQ:TSLA) inched down in midday trade Monday after a downgrade ahead of its earnings report this week.

Roth Capital downgraded the luxury carmaker to neutral from buy due to risks from increasing battery costs and competition from other automakers.

“We expect the shares of TSLA to remain range bound until these issues are resolved," Roth’s Craig Irwin wrote in a note.

Tesla reports its earnings after the bell on Wednesday, with investors expecting a loss of $0.41 per share on $6.52 billion in revenue. Its deliveries forecast will also be closely watched to see if the company is still on track to deliver 360,000 to 400,000 vehicles this year as promised.

Tesla slipped 0.5% in midday trade.

Latest comments

Tesla is not the future of transportation.
They just pushed the automitive industry into the future.... The rest is not a job for only one company.. Got it?
If tesla isnt who is GM, Ford, VW ? Come on
I wish all the best for Elon musk Tesla company and Elon musk all other company's that he owned.
Im long on tesla all the way
Tesla has a lot to over come. There are some large industries that are trying very hard to keep EV s off the market. Still waiting for my electric Ford Pinto.
buying today .
Downgrade 2 days before the results lol time for shorts to dump today
time to dump trash
Does anyone if Roth Capital holds short positions on Tesla?
Thank you for the downgrade. Loading up.
Falls?!?! .42 cents?! There is no competition since no one can make batteries at scale.
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