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Tesla will report 3Q 2020 financial results on 22 Oct 2020
16 Oct 2020 (101 views)

I now hold 200 shares in Tesla. It will be reporting its 3Q 2020 financial results on 22 Oct 2020. 

What do I expect?

I expect the results to be very good. They will report a healthy profit and good sales figures.  It may also be possible that Tesla will be included in the S&P 500 index by end October.

This means good news for Tesla. 

But, the investors had probably expected the good news. When it is released, the share price might fall. This has happened on the last two occasions - when Tesla announced its strong delivery numbers and on Battery Day. On both occasions, Tesla should have pushed beyond $500. It did not.

I expect that the financial results that will be announced on 22 October will also lead to "profit taking".  That is why I decided to sell 200 Tesla shares last night and to keep only the remaining 200 shares.

My crystal ball CB disagrees with me. He is still expecting Tesla to push strongly beyond $500 and maybe reach $600.

I have another reason to be cautious. The US presidential election will be on 3 November 2020. I expect the election results to be messy and contested. There will be great uncertainty. 

Sorry, Elon Musk. I will be selling the remaining 200 Tesla shares next week, after the results are announced. Hey, I am still waiting for the Tesla short shorts that you promised to send to me.

Friends, do you agree with my cautious approach?

Tan Kin Lian








 


Tesla will report 3Q 2020 financial results on 22 Oct 2020
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I now hold 200 shares in Tesla. It will be reporting its 3Q 2020 financial results on 22 Oct 2020. 

What do I expect?

I expect the results to be very good. They will report a healthy profit and good sales figures.  It may also be possible that Tesla will be included in the S&P 500 index by end October.

This means good news for Tesla. 

But, the investors had probably expected the good news. When it is released, the share price might fall. This has happened on the last two occasions - when Tesla announced its strong delivery numbers and on Battery Day. On both occasions, Tesla should have pushed beyond $500. It did not.

I expect that the financial results that will be announced on 22 October will also lead to "profit taking".  That is why I decided to sell 200 Tesla shares last night and to keep only the remaining 200 shares.

My crystal ball CB disagrees with me. He is still expecting Tesla to push strongly beyond $500 and maybe reach $600.

I have another reason to be cautious. The US presidential election will be on 3 November 2020. I expect the election results to be messy and contested. There will be great uncertainty. 

Sorry, Elon Musk. I will be selling the remaining 200 Tesla shares next week, after the results are announced. Hey, I am still waiting for the Tesla short shorts that you promised to send to me.

Friends, do you agree with my cautious approach?

Tan Kin Lian