Tesla Deliveries Beat Everyone’s Forecasts: Morgan Stanley
- Tesla reported 2Q deliveries that beat analyst expectations
- Morgan Stanley cautions shares may ‘squeeze and then fade’
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Tesla Inc. surprised Wall Street with record second-quarter deliveries that beat estimates, easing concerns over waning demand for the company’s electric cars that had pressured shares so far this year.
“While there were a good amount of ‘leaked’ emails and reports prophesizing a potential ‘record quarter’ for deliveries, we had not spoken to any investors that expected deliveries to be this high,” Morgan Stanley analyst Adam Jonas wrote in a note. “We expect the stock to squeeze and then fade on this news.”