Tesla Stock Under Pressure as Delivery Numbers and Roadster Launch Loom

Tesla's stock has been under pressure in recent days, dropping from its peak of $384 last week to $372 as investors express concerns about the company's business. One key indicator for the stock is the upcoming third-quarter delivery numbers, which will provide insight into Tesla's financial performance.

Analysts have varying expectations for these numbers, with Goldman Sachs reducing its target to 435,000 deliveries and Barclays forecasting a figure of 475,000. Kalshi traders are slightly more optimistic, predicting 479,000 deliveries.

The ongoing US-Iran conflict has boosted Tesla's sales in key markets due to rising diesel and gasoline prices, making electric vehicles an attractive option for consumers. However, in China, the company faces increased competition from local players like BYD and Nio, with higher costs of doing business a concern.

Another significant catalyst for Tesla's stock is the upcoming launch event for its highly anticipated Roadster vehicle, which was first unveiled in 2019 and has been delayed multiple times. Elon Musk initially stated that the base model would start at $200,000, with the Founder's edition priced at $250,000.

Tesla may also make additional announcements during this event to boost its performance. Moreover, the company's significant holdings of Bitcoin, currently valued at $973 million, could have an impact on the stock due to the cryptocurrency's recent price rebound.