TSLA
A stock that can’t decide what mood it’s in
Tesla just posted 480,126 vehicle deliveries for Q2, which sounds solid on paper — up 25% year over year. But apparently the market heard that and said, “Cool story, still not enough.” The stock heads into its July 22 earnings down 22%, which is about as subtle as a windshield wiper in a monsoon.
Wall Street’s version of a buzzkill
Then there’s Wells Fargo, which last week bumped its price target to $130. Translation: the firm thinks Tesla still has a lot of work to do before the stock stops acting like it’s powered by pure vibes and caffeine. At that level, the target implies a 67% plunge from today’s price — the kind of call that makes investors either gasp or go hunting for the fine print.
Why you should care
This is the classic Tesla paradox:
- deliveries are still growing
- the stock is already pricing in a lot of future magic
- and earnings could either calm everybody down or make the chart look even more dramatic
If Tesla can turn those delivery numbers into a convincing earnings story, maybe the bulls get to breathe. If not, the skeptics are going to keep waving their “this is overpriced” banner like they’re at a playoff game.
Big picture: Tesla is heading into earnings with momentum in the real business and plenty of doubt in the stock. That gap is where the fireworks usually live.