16.03.2020 Tesla Daily Analysis

16.03.2020 Tesla Daily Analysis

Tesla closed on Friday after losing a bit of value of the stock even though they were up almost 5% for the week. However, Monday saw the stock lose $77 apiece. This comes immediately after the company started delivery of its Model Y vehicles the past Friday. However, the Tesla deliveries are quite low as compared to the Model 3 vehicle delivery when they were released. China and Norway which were the largest consumers had a big decline in their orders and this could be one of the reasons why the stock isn't performing so well. The reason why the vehicle orders are also low coıuld be the fact that these are troubled times and the Tesla vehicles are luxuries rather than necessities and most consumers tend to lay off luxury items during times of financial crisis like this. Hopefully with more deliveries the stock should recover some of it's losses