Shares of Tesla have been a big post-election winner as Elon Musk cozies up to the President-elect.
There has been some selling of TSLA in the past week, in part because of angst about auto sales. The Q4 number will be released around the top of the hour and the consensus is 506,763.
I’m tempted to lean on the higher side because of the usual end-of-quarter incentives from Tesla and because the company forecast ‘slight growth’ in sales in 2024. In order to grow at all in the year, the company will need to sell about 515,000 cars this quarter.
The big X-factor in the year ahead is the anticipated removal of the $7000 instant rebate on Tesla sales that’s almost certain to be removed in a Republican Congress. There will be a flurry of sales before it’s taken away, followed by a bust. Against that, Elon Musk has promised to unveil a lower-priced car.
This article was written by Adam Button at www.forexlive.com.
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