Second-quarter delivery data to be released soon, Tesla's stock price breaks $200

According to the Zhitong Finance and Economics APP, Tesla (TSLA.US) stock price has surpassed $200, as the electric car manufacturer prepares to announce second-quarter delivery data this week.

Tesla typically announces global delivery results on the second day of the new quarter. Based on the latest Wall Street estimates, deliveries in the second quarter are expected to be around 420,000 vehicles, lower than the approximately 466,000 vehicles in the second quarter of 2023. This means that deliveries have declined year-on-year for two consecutive quarters.

Despite the upcoming announcement, Tesla's stock price has risen by about 18% in the past two weeks. As of Monday's close, the stock rose by 6.05% to $209.89, reaching its highest level since January 19, 2024, and marking the fifth consecutive trading day of gains.

Despite a bearish report from Wells Fargo analyst Colin Langan, Tesla's stock price continues to rise. Langan stated that delivery expectations for Tesla in 2024 are too high, estimating sales of around 1.6 million vehicles this year, while the Wall Street consensus compiled by FactSet is around 1.8 million vehicles. Slowing demand increases the risk of Tesla continuing to lower prices. Langan rates Tesla stock as "sell" with a target price of $120.

Another factor affecting the stock price is Tesla's robotaxi event on August 8th, where the company will detail its plans for using autonomous driving software and technology. CEO Musk has called autonomous driving cars a trillion-dollar opportunity, sparking investor interest in recent trades.

Wedbush analyst Dan Ives wrote in a report on Friday, "We believe August 8th's robotaxi day will be a key historical moment in the Tesla story, which we view as a short-term catalyst. Ultimately, achieving a valuation of over a trillion dollars hinges on Tesla's autonomous driving vision."

Ives rates Tesla stock as "buy" with a target price of $275. Morgan Stanley analyst Adam Jonas also rates Tesla stock as "buy" with a target price of $310. He is excited about the potential of Tesla's emerging robot business. Tesla is developing a labor-saving robot that uses artificial intelligence computing for training.

In a recent report, Jonas wrote, "Our view on Tesla is that it is both a car stock and an energy, artificial intelligence/robotics company. In fact, the valuation of our core automotive business ($67 per share) accounts for only about 20% of our $310 target price."

While Ives and Jonas are focusing on factors beyond second-quarter data, delivery results will still have some impact on the stock price. The options market implies that after Tesla's delivery report is released, the stock price will rise or fall by 5%. In the past four reports, Tesla's stock price has fluctuated by an average of about 3%. After weaker-than-expected first-quarter delivery data, the stock price fell by nearly 5% The second-quarter financial report is expected to be released a few weeks after the delivery of the data, which may have a greater impact on the stock price. Following the release of the past four quarterly reports, Tesla's stock price has experienced an average fluctuation of about 11%.

As of the close of trading on Monday, Tesla's stock price has fallen by approximately 15% year-to-date, while the S&P 500 index has risen by about 15%. Slowing sales growth and declining profit expectations have dampened investor sentiment