• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Economy Tesla Stock’s Critical October: Robotaxi Reveal & Q3 Results
Economy

Tesla Stock’s Critical October: Robotaxi Reveal & Q3 Results

by October 8, 2024
by October 8, 2024 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

Tesla’s Pivotal October: Robotaxi Event and Q3 Earnings Looming

Tesla stock (NASDAQ: TSLA) faces one of its most decisive moments of the year with the company’s long-anticipated robotaxi event on October 10. This event will be the final clue on the company’s autonomous vehicle ambitions, mainly the Full Self-Driving (FSD) technology. Investors eagerly anticipate Tesla launching its robotaxi service to its potential market, a move that could revolutionise the entire transportation industry as we know it.

While Tesla has faced slower growth in the electric vehicle (EV) market due to growing competition, investors consider Tesla’s high gross margins and focus on the autonomous vehicle sector a convincing growth narrative. The autonomous driving market should grow at a compound annual growth rate (CAGR) of 32% in the next six years, which may rise to $39 billion by 2030. Technological progress in the space by Tesla may facilitate the company to take the global lead in this sector, which can be one of the most attractive long-term investment opportunities for investors.

Tesla’s Q3 Earnings and Strategic Moves

Tesla will release its Q3 earnings report after the robotaxi event, which will further heighten interest in the company’s future performance. Dealers will keenly observe them for updated information on product sales and profitability margins, focusing on Tesla’s recent tactics of spurring on demand.

To accelerate the sales of Q4, Tesla has introduced price cuts by letting non-Foundation Series Cybertrucks be ordered. The dual-motor Cybertruck is now available at $79,990, down from the previous $100,000 price tag. These adjustments should be a move to get the attention of a wider group of customers, thus indicating that Tesla’s sales strategy is evolving from last year’s approach.

TSLA/USD Stock Chart

Tesla Stock Chart Analysis

Examining the short-term chart of Tesla (TSLA), it is clearly revealed that the company’s shares were moving around the same price level. Initially, the stock was trading at $250.13. Then, during the session, it first went up to $250.20 and then slipped to a minimum of $249.62. However, it managed to recover almost all the previous losses and was finally close to $250.03 which is a decrease of 0.04% against the opening price of $250.07.

We see that Tesla is concentrating at the $250 level, with a few resistances showing up at about $252. It looks like the bulls have in difficult problem raising the price higher while the bears are against it. The volume is around 298.7K, which is significant, but it doesn’t particularly show a considerable number of trades compared to the previous volume peaks.

Support seems to be around $248, which the stock has repeatedly moved away from for the last few days. When traders test the support level, if Tesla’s stock price fails to rise above $252, it might fall back to the previous level. These are the levels we are watching. A jump over $252 or a break under $248 can mean the next substantial movement of the stock.

Not to mention that Tesla will issue a Q3 earnings report soon, which is why it will be more enlightening to know its performance, especially the sales and the margins. Tesla’s recent price drops on the Cybertruck imply that the company is adopting a demand stimulation strategy, which again underlines why investors should continuously follow the stock for updated information.

If your intention is to pursue Tesla’s breakthroughs, this is your moment to monitor the stock intensely!

The post Tesla Stock’s Critical October: Robotaxi Reveal & Q3 Results appeared first on FinanceBrokerage.

You Might Also Like
  • Chinese official who praised CCP makes another appearance at top Ivy League school: ‘Historic connections’
  • Republicans react to ‘shameful’ indictment of Trump: ‘Outrageous abuse of power’
  • Trump fires up major faith gathering just days ahead of first debate clash with Biden
  • Biden returning to White House for first time since ending presidential bid, COVID diagnosis
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Tech Regulations: The EU regulates, the US steps back
next post
Shares of generator maker soar, insurance stocks fall as Hurricane Milton intensifies

You may also like

White House ‘looking to move beyond’ Chinese spycraft incidents

May 12, 2023

Pennsylvania House passes $100M mental health spending plan

June 8, 2023

McCarthy has US Capitol flags lowered half-staff, honors 13 lives...

August 27, 2023

Hunter Biden deposed in Arkansas child support case over 4-year-old...

June 17, 2023

FBI director says COVID pandemic ‘most likely’ originated from Chinese...

March 1, 2023

Biden admin scientist raised alarm on offshore wind harming whales...

February 28, 2023

Biden agency ‘likely’ violated free speech by working with Big...

October 5, 2023

Anna Paulina Luna calls for $10,000 per day fine on...

July 2, 2024

Biden tells Congress he’ll end COVID-19 emergencies on May 11

January 31, 2023

RFK Jr unleashes on Biden, Dems after accusing them of...

May 31, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • How to Find Compelling Charts in Every Sector

      July 10, 2025
    • White House accuses Powell of mismanaging Federal Reserve, citing headquarters renovation

      July 10, 2025
    • Italian chocolate giant Ferrero to buy Kellogg’s Froot Loops maker

      July 10, 2025
    • OpenAI to release web browser in challenge to Google Chrome

      July 10, 2025
    • Sports executive charged with bid-rigging in Texas arena project

      July 10, 2025

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 3,631 views
    • 2

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,919 views
    • 3

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,607 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,577 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,449 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,171)
    • Investing (538)
    • Stock (2,662)

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 2

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 3

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • How to Find Compelling Charts in Every Sector

      July 10, 2025
    • White House accuses Powell of mismanaging Federal Reserve, citing headquarters...

      July 10, 2025
    • Italian chocolate giant Ferrero to buy Kellogg’s Froot Loops maker

      July 10, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,171)
    • Investing (538)
    • Stock (2,662)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Role abortion rights played on Election...

    November 21, 2023

    Lara Trump says RNC must use...

    March 12, 2024

    New images of Avigail Idan show...

    November 28, 2023
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here