Tesla Stocks Tank 7% Yesterday As Earnings Failed To Meet Investors Expectations.

All eyes were on Tesla yesterday as investors and traders anticipated its earnings report. For the record, Tesla has been performing amazingly well in recent times. Its share price surpassing several of its all time highs (Its shares gained nearly 700% in the past 12 months). With its proven track records, we dare to say that investors, analysts and traders alike had high hopes for this disruptive company.

At the close of the market bells yesterday, Tesla reported amazing profit (six times in a row) and sales figures. Despite this feat, its reported earnings per share were below investors expectations which made the stock tank more than 7% after trading hours.

It (Tesla) earned $270 million (24 cents a share) which fell short of analysts expectations. They expected adjusted earnings of $1.02 a share on sales of $10.47billion.

In an attempt to save face and establish itself as a company with amazing growth prospects, Tesla said that it expects a 50% annual growth for its deliveries of electric vehicles in future years (that would mean around 750,000 vehicles for 2021), stating that it would likely grow faster in 2021.

Earlier this year, the stock went on its longest ever winning run and we expect to see more runs like this later this year.