Tesla CEO Elon Musk returns to company earnings call – .

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Tesla CEO Elon Musk returns to company earnings call – .



Tesla
CEO Elon Musk tweeted on Monday afternoon that he would participate in his company’s next fourth quarter conference call, which will take place in late January.

It is likely bullish for Tesla stock (ticker: TSLA) in the near term. It can mean that things are going well. It could also be bullish in the long term, depending on what he says.

Musk was not on the third-quarter earnings call after telling investors he wouldn’t be making any future calls in July. Now it looks like he just took a quarter break.

Musk announced his intention by replying to a tweet on Twitter. “This year has been such a nightmare for the supply chain [and] it’s not over, ”Musk wrote. “I will provide an updated product roadmap in the next call for results. ”

The “supply chain nightmare” doesn’t sound right. But automakers suffered from supply chain issues, including higher costs and semiconductor shortages, throughout the year. This is nothing new. The product roadmap has the potential to make big news.

At a minimum, Musk will likely let investors know when the company’s pickup truck is dubbed, of course, Cybertruck.

Bigger news would be an update on a new model, an electric vehicle that starts at around $ 25,000. Musk has talked about a cheap car in the past. “This has always been our dream since the start of the company,” he said in September 2020 at the company’s annual shareholders meeting. “I think probably… in about 3 years we are convinced that we can make a very convincing electric vehicle at $ 25,000. This would put a new model on sale in 2023. It would also mean that the model would be revealed in early 2022.

Tesla unveiled the Cybertruck at the end of 2019. It is expected to start production in the coming weeks. It’s a two-year gap, but the pandemic has shaken the entire global economy. Tesla unveiled its Model 3 in the spring of 2016. The cars were sold about 14 months later.

Electric vehicles from other manufacturers are also becoming cheaper to purchase.

XPeng
(XPEV) launched a $ 25,000 sedan in October. Low-cost electric vehicles are opening up more of the overall automotive market to electric vehicle manufacturers.

Tesla did not respond to a request for comment on the tweet or product update.

There’s another reason Musk’s appearance is good news – he probably wouldn’t show up if the numbers looked low. That’s speculation, but Tesla bear Gordon Johnson of GLJ Research wrote on Tuesday that he expects a large number of deliveries in the fourth quarter. It is forecasting around 280,000 deliveries, about 20,000 more than consensus estimates.

If Tesla delivered 280,000 vehicles, that would push full-year deliveries north of 900,000 and up about 80% from 2020.

Still, Johnson is evaluating the sale of Tesla shares. He believes Tesla’s profit margins will decline as the company opens two new manufacturing plants in Germany and Austin. He is also concerned that Tesla will lose market share as electric vehicle models from other automakers hit the market. Johnson’s price target for the stocks is $ 67 down the street.

The tweet came out on Monday night, but the stock didn’t appear to react in the closing moments of trading – stocks were already up around 5% for the day.

Tesla shares are up 2% to $ 1,159.94 in recent trading.


S&P 500

and


Dow Jones Industrial Average

futures are down 0.5% and 0.8%, respectively, amid renewed fears about the Omicron variant of Covid.

Write to Al Root at [email protected]

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