Buy Tesla shares for the coming ‘step-function up’ in sales: Instinet

Tesla shares will rise as the electric car maker significantly ramps up its deliveries in the September quarter, according to Nomura Instinet.

cited a Tesla memo, which asked a supplier last week to return a “meaningful amount of money of its payments since 2016.” Tesla shared dropped 3.3 percent on Monday, a day after the report.

“Circling back to the Wall Street Journal article, we believe the notion that Tesla is attempting to recoup prior payments in an effort to avoid insolvency is exaggerated,” Shah said.

Tesla is slated to report its June quarter earnings results on Aug. 1.

Read More

LEAVE A REPLY

Please enter your comment!
Please enter your name here