Tesla Q3: Mixed Quarter, Musk Pumps, Mr. Market Dumps

Oct. 20, 2022 12:15 PM ETTesla, Inc. (TSLA)39 Comments


  • Tesla's Q3 report proved to be underwhelming, with a slight beat on EPS being overshadowed by misses on revenue and automotive gross margins. Not a surprise considering Q3 deliveries data.
  • Elon Musk provided a lot of hopium during the earnings call, going as far as saying that Tesla could be worth more than Apple and Saudi Aramco combined ($4.5 trillion).
  • Despite Musk's optimistic outlook for Tesla, the stock was down 6.5% in the after-hours session. Mr. Market is not buying into Musk's hopium.
  • With Tesla set to test key psychological support at $200, a potential breakdown of the head & shoulder pattern could send the stock tumbling down to the mid-100s.
  • While I think Tesla is now undervalued, a mixed quarterly report and precarious technical setup call for slow accumulation. I like the idea of accumulating Tesla shares over the next 6-12 months.
  • Looking for a helping hand in the market? Members of The Quantamental Investor get exclusive ideas and guidance to navigate any climate. Learn More »
Elon Musk Speaks At Satellite Conference In Washington, DC

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Brief Overview Of Tesla's Q3 Report

After the release of a somewhat mixed Q3 earnings report, Tesla's (NASDAQ:TSLA) shares closed at $208.16 (down ~6.25%) in the after-hours session. In Q3, Tesla's non-GAAP EPS of $1.05 came in slightly ahead of street estimates; however, Tesla missed on the top-line

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