The stock price of Tesla Motors Inc (TSLA) has gone down by over 1.45% today till the late morning trading session. Since Wednesday, the stock has fallen by over 2.32%. The stock closed at $200.24 on Thursday.
The California based company is an American automotive and energy storage company that designs, manufactures, and sells electric cars, electric vehicle power train components, and battery products. During the first quarter of 2013, Tesla posted profits for the first time in its history. Tesla first gained widespread attention following their production of the Tesla Roadster, the first fully electric sports car. The company’s second vehicle is the Model S, a fully electric luxury sedan, which was followed by the Model X, a crossover. Its next vehicle is the Model 3.
Global Model S sales passed the 100,000 unit milestone in December 2015, three and a half years after its introduction. The Model S was the world’s best selling plug-in electric vehicle in 2015. As of June 2016, the Model S ranks as the world’s second best selling plug-in car in history after the Nissan Leaf. As of 30 June 2016, Tesla Motors has sold almost 140,000 electric cars worldwide since delivery of its first Tesla Roadster in 2008.
A source reported that on Monday, Elon Musk is promising a surprise announcement about Tesla. The reveal will be “unexpected by most,” Musk tweeted last Sunday. Anyone familiar with the electric automaker and its CEO’s cryptic ways will know that this passes for specificity in Tesla world. Conversations with industry watchers and analysts put good odds on it being related to self-driving technology, specifically so-called Tesla Vision, which leverages computing power to help a vehicle navigate its surroundings based on inputs from cameras and radar.
Tesla Vision news would help steer the company away from the questions surrounding its original Autopilot self-driving system, which federal regulators continue to investigate in relationship to a number of Tesla crashes worldwide. Musk recently announced an upgrade to Autopilot, but he has hinted at a coming quantum leap. On a call with investors earlier this summer, Musk said the next generation of Tesla autonomy “will blow people’s minds; it blows my mind (and) it’ll come sooner than people think.” Quite the promise considering the growing number of automotive and technology companies feverishly working on autonomous driving, including Google, Uber, Volvo, Ford, Audi and Mercedes-Benz, to name a few.
Some 40% of respondents said they were expecting an Autopilot update, while 18% said Tesla Glass (a project allegedly focused on information-projection technology), 16% said Model Y (the company’s rumored cross-over sedan), and 15% said Model 3 Part 2 (Tesla’s forthcoming mass market sedan as yet has no interior).
Our analysts have given a “HOLD” rating to Tesla Motors’ stock. Despite the fall this week, the market is expected to respond well to Musk’s recent statements. Buying it at this stage might turn out to be a smart move.