Tesla this is a holiday week, but unlike any other, so digging into past July 4th week performances may not be that helpful. ESLA Usually, the day before
Tesla this is a holiday week, but unlike any other, so digging into past July 4th week performances may not be that helpful. ESLA Usually, the day before Independence Day is low on volume, a combination of investors leaving work early to get a jump on the holiday and those taking more time off to travel to see friends and relatives. But with many working remotely, there’s no traffic to beat, and staycations will likely be the order of the day. A problem to the rebound could be incentives drying up, with automakers able to only offer so much. Incentives are on a pace to hit $4,411, which would be a record for June and up to $445 from the same month a year ago. The same day, Tesla (NASDAQ:TSLA) will report its quarterly deliveries - one of the toughest periods to gauge given that factories were shut and then started up again. The consensus is for 69K in Q2, but analysts have been upping their forecasts.“Investors would like to see actual numbers out of China, although management might not provide that much transparency,” Bill Maurer wrote on Seeking Alpha Friday. Thanks mainly to Tesla, the First Trust Nasdaq Global Auto Index Fund (NASDAQ:CARZ) is up more than 50% from its April lows of the year.