Good Evening, Tesla NASDAQ: TSLA did not have a bad quarter per se, but many positives are smoke-and-mirrors hiding near-term pain in favor of long-term hope. The company’s core business, selling EVs, is struggling and shows no signs of improvement. Details from that segment include a 7% decline in revenue and a 5% decline in deliveries, which shows the impact of lower pricing. The worst news from the car segment is that production levels are falling to meet the sluggish demand, down 14% YoY, suggesting that car sales will be equally weak in the next two fiscal quarters. The takeaway for investors is that Tesla is working on its next growth phase. That phase may start as early as next year, but share prices will likely fall back to critical support levels before it happens.
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William Bushee
MarketBeat | 
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