Key Points
Space Exploration Technologies (SpaceX) recently went public, valuing the company at over $1.9 trillion, surpassing Tesla’s market cap of approximately $1.5 trillion. This shift in the investment landscape provides fans of Elon Musk with additional options. Tesla’s stock is down nearly 10% year-to-date, and its upcoming earnings report is scheduled for July 22, which may impact investor sentiment.
In its last earnings report, Tesla posted a revenue of $22.4 billion, marking a year-over-year increase from $19.3 billion, with a growth rate of 16%. However, the company’s stock has often fallen post-earnings announcements due to lackluster projections and ongoing competitive pricing strategies. Analysts expect Tesla to show mixed results for Q2, as excitement wanes and investors become cautious over high valuations, currently around 400 times its trailing earnings.
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