Tesla Motors Inc. (NASDAQ: TSLA)
On Sunday Tesla Motors (TSLA) announced that they delivered 17,400 cars, barely beating earlier predictions for the fourth quarter of 17,000 to 19,000 deliveries. The Model X, TSLA’s new SUV, also had lackluster sales, as there were only 208 deliveries in the fourth quarter while they made over 500. This is not sitting well with investors, as shares are down a solid 4% in the premarket session trading in the $230 price range after closing the last day in 2015 at $240.01.. The overall market isn’t helping out much either with futures down nearly 2% to kick off 2016. TSLA is setting up to start the year below the 200-day moving average currently sitting at 236.82, which should act as resistance now and support should be met at the $228, $225.54 and the $224 price levels. Keep an eye on this one today as TSLA will be in play but remember to mind your stops with the elevated volatility.
TSLA noted in its announcement that “There may be small changes to this delivery count (usually well under 1%), as Tesla only counts a deliver if it is transferred to the end customer and all paperwork is correct.” (MarketWatch)
Tesla Motors, Inc. engages in the design, development, manufacturing, and selling of electric vehicles and electric powertrain components. Its products include electric vehicles such as the Model S, Model X, and the Tesla Roadster. The company was founded by Jeffrey B. Straubel, Elon R. Musk and Marc Tarpenning on July 1, 2003 and is headquartered in Palo Alto, CA. (MarketWatch)