Electric vehicle (EV) company Tesla (NASDAQ:TSLA) is closing out this week in the green. Despite some turbulence, TSLA stock has mostly trended upward this week despite some less-than-positive news.
2022 second-quarter delivery statistics are in, and while Tesla met the “line in the sand” outlined by Wedbush analyst Dan Ives, some investors did not react well to its first delivery decline in nine quarters. But Ives thinks investors should focus on the next quarter, and other experts still regard TSLA stock as a buy. The TSLA stock split vote is also approaching, and anticipation will be high as it draws closer.
Despite the delivery report, Tesla has managed to rally and some experts are issuing more bullish takes. But that doesn’t mean investors don’t have cause to regard TSLA stock with healthy skepticism as the summer unfolds. This week also brought reports that the company is pausing production at multiple factories as labor and supply chain constraints threaten progress.
Let’s take a look at the week’s top TSLA stock stories investors should be reading.
Top Headlines for TSLA Stock Investors
- Tesla (TSLA) announces just over 250,000 deliveries – its first down quarter in a long time
As noted, Tesla’s Q2 2022 deliveries represent its first decline in the category in years. Tesla began the year on a high note when it reported a record number of deliveries for Q1 2022. But even opening new factories across the globe couldn’t help it keep up the pace as supply chain shortages and government-imposed shutdowns forced production numbers down. Analysts lowered their estimates for Tesla’s Q2 deliveries, and the company’s report was in line with expectations.
Read more about this story here.
2. Tesla Pauses Plants After Ending Shaky Quarter With a Production Milestone
Following the delivery report, Tesla announced that it will pause production at its Shanghai and Berlin factories for the next two weeks. Just a few months before, the shutdowns imposed by the Chinese government forced Tesla to halt production unwillingly. This led to some experts lowering their TSLA stock price targets. Now that Tesla has chosen to halt production, it is unclear how much operations will be affected.
Read more about this story here.
3. Tesla Stock Is Soaring. Thank the Chinese Government.
While TSLA stock has reported some bad news this week, it has remained mostly in the green. That’s partially due to some good news out of China. The country’s Ministry of Commerce has expressed support for the sales of new and used vehicles. According to Barron’s, this may mean subsidies for both battery-electric and plug-in hybrid vehicles. And as the outlet notes, Tesla produces and distributes many vehicles in China, making it likely to benefit from this news.
Read more about this story here.
4. White House: Tesla to expand its U.S. Supercharger network to other EVs in late 2022
According to a memo released by the White House, Tesla is planning to open up its vast EV charging network to vehicles made by other companies. The statement notes that “later this year, Tesla will begin production of new Supercharger equipment that will enable non-Tesla EV drivers in North America to use Tesla Superchargers.” This initiative will help speed up America’s transition to electric transportation and create new business for Tesla.
Read more about this story here.
5. Tesla workers are in hot demand at Apple, Amazon and at EV rivals Lucid and Rivian
Tesla has been laying off workers recently, and a private executive network called Punks and Pinstripes has been tracking where they have ended up. According to its recent report, fellow EV producers Lucid (NASDAQ:LCID) and Rivian (NASDAQ:RIVN) have been working hard to recruit Tesla’s ex-staffers. This means both companies are expanding production while Tesla is doing the opposite. It could mean trouble for TSLA stock down the road.
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On the date of publication, Samuel O’Brient did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
