Tesla Inc, the California EV maker had reported the Q2 2020 worldwide delivery numbers on July 2nd. Impressively, Tesla had delivered 90,650 cars in the second quarter vs analysts’ average estimate for about 83,000 units.
Daniel Ives, analyst from Wedbush Securities said in an interview: "There is definitely a significant retail component that is driving shares higher."
Ives mentioned many big institutional investors are now want to invest into Tesla (NASDAQ: TSLA) and the electric vehicle market. “In a Covid-19 pandemic and a dark macro environment, the company just put up a 90,000 delivery number, especially when other automakers are seeing herculean challenges.”
"Big Money" from institutional investors are now desperately want to get into Tesla stock (NASDAQ: TSLA), noticed by Roth Capital Partners’ Craig Irwin.
“Tesla’s valuation doesn’t make sense by any traditional measure,” said Ivan Feinseth from Tigress Financial Partners. “it is not a traditional company, so how do you put a traditional measure to it?”