Tesla Motors Inc TSLA 0.21% shareholders may have just gotten a taste of how the stock could react to any potential future delays in Model 3 production. Tesla shares plummeted from above $198 to as low as $193.26 in a matter of minutes Tuesday following a change to the company’s Model 3 reservation website.
As recently as October 16, the site read, “Deliveries begin late 2017.” However it now reads, “Production begins late 2017. Delivery estimate for new reservations is mid 2018 or later.”
Traders began dumping the stock on what seemed to be a major delivery delay, but a Tesla spokesperson quickly dispelled the rumors.
“Today’s website update does not reflect any change in our plans. We still plan to begin Model 3 deliveries in 2017, and we adjusted the delivery date on our marketing page to reflect more accurate timing for new/future reservation holders,” the spokesperson told Benzinga.
The statement sent…
Click here to continue reading
Want to learn more about how to profit off the stock market? Or maybe you just want to be able to look sophisticated in front of your coworkers when they ask you what you are reading on your Kindle, and you’d prefer to tell them “Oh, I’m just reading a book about stock market analysis,” rather than the usual “Oh, I’m just looking at pics of my ex-girlfriend on Facebook.” For these reasons and more, check out my book, Beating Wall Street with Common Sense. I don’t have a degree in finance; I have a degree in neuroscience. You don’t have to predict what stocks will do if you can predict what traders will do and be one step ahead of them. I made a 400% return in the stock market over five years using only basic principles of psychology and common sense. Beating Wall Street with Common Sense is now available on Amazon, and tradingcommonsense.com is always available on your local internet!