Here’s Why Tesla Inc (TSLA) is in the Spotlight

Tesla Inc (NASDAQ:TSLA) is in the spotlight this weekend after it released its much anticipated estimated delivery numbers for the first quarter. Specifically, Elon Musk’s EV maker delivered just over 25,000 vehicles for the time period, with around 13,450 being the Model S and 11,550 being the Model X. All in all, the ~25,000 number marked a 69% increase year-over-year, and was a new quarterly record. With that said, the numbers aren’t final as of yet, and the final numbers could change by up to 0.5%. In addition to the number of deliveries, Tesla Inc (NASDAQ:TSLA) also disclosed that it produced 25,418 vehicles for the time period and that 4,650 vehicles were ‘in transit’. Given that many bears were expecting lower delivery numbers (of 24,000 or less), Tesla could be volatile on Monday.

What Does The Smart Money Sentiment Say?

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Of the 742 elite funds we track, 38 funds owned $1.19 billion of Tesla Inc (NASDAQ:TSLA) and accounted for 3.50% of the float on December 31, versus 34 funds and $1.01 billion respectively on September 30.

The Bottom Line

Tesla Inc (NASDAQ:TSLA) is trending due to the EV maker reporting rather solid delivery and production numbers for its first quarter. Elon Musk and Co will need to continue to execute if they are to achieve their ambitious mission of basically disrupting the entire auto industry and producing half a million vehicles a year by 2018. For those of you interested, check out this article about the 8 countries that produce the most electricity in the world.

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