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So, I think long-term Tesla is an incredible investment. On the short term, Tesla has these headwinds with higher rates, retooling the factory. So, I think if your goal is one to two months, you know, I I don't know about Tesla, but I think if your goal is over the next 3 to 5 years, Tesla is as good of investment as ever.
And and it's just a high valued short-term retooling the factory costs a lot of money. So, I don't think Tesla is a good investment if your goal is to make money in the next one to two months. On the other hand, Vander research shows that individual investors are dusting themselves off and moving back into the stock market this year, but their love for Wall Street isn't evenly spread.
For example, Tesla incorporated shares had their worst year ever in 2022, while stocks exposed to a hot new technology did very well. I I don't like unions for many reasons. If you work at Tesla, you might get paid less in dollars, but you get stock options. When the company does well and goes up 1,500% in four or 5 years, those employees did extremely well at Tesla, it's pay for performance.
Now, if you get the same pay at Ford, the problem is that Ford stock hasn't gone anywhere. So, Ford union members aren't saying give us stock, they're saying, "Give us cash." And that's the difference between a really exciting growth company and an old industrial company that's on the verge of going out of business.
Tesla shares are seeing demand that has never been seen before as our stocks related to artificial intelligence like Nvidia and AI along with the rest of the Fong Group. In an early this year note, Marco Laney senior vice president Jorgo Parenton head of data and Lucas Mandel data science analyst said that even though 2018 was the worst year ever for Tesla shares, individual investors still have faith in the electric car company and its billionaire CEO Elon Musk.
Traders have kept buying more and more shares. Vanderbilt study shows that they were baited buyers every day in December and the fourth quarter of last year, bringing their net purchases to all-time highs. At the time, it looked like they might get a small reward for being so loyal. At the end of the day in New York, Tesla shares were up 3.3% to $12.71, ending a 7-day losing streak that had pushed them down 70% that year and taken almost $720 billion off the company's market value.
The drop was caused by rising interest rates, which hurt growth stocks, worries that demand will drop in recession, and worries that Musk's purchase of Twitter will take his attention away from keeping the social media company afloat by selling more Tesla stock. At one point, the drop made it the third worst performer in the S&P 500 index this year.
Musk told his employees not to worry about the crazy stock market. Reuters said this based on a private email for Tesla's diehard fans among individual investors, even the risks to the market for electric vehicles and Musk's focus on Twitter haven't made them lose faith in a stock that became one of the most valuable on Wall Street.
retail investors bought more Tesla stock in the last 6 months than they did in the 60 months prior to this. Vander's senior strategist Vir Patel said that for institutional investors, it's a sellers's paradise when you have a buyer that is clearly not reading the fundamental signals this year. Tesla retail investors remain bullish.
In fact, individual investors are scooping up Tesla stock as the shares continue one of their longest winning streaks in history. Vander research data shows that Tesla shares were the top buy for retail traders in June. However, retail investors recently got some bad news about the company. Tesla deliveries in the third quarter were lower than what Wall Street expected.
This was a big drop from the company's record setting number of deliveries in the second quarter. A few days ago, Tesla said it produced 43 48 vehicles and delivered 435,000X vehicles and 49 74254 million vehicles. Before the release, analysts have predicted deliveries of around 461,000 vehicles, but other Wall Street estimates put the number closer to 455,000.
Production fell because Tesla temporarily shut down factories and generally slowed down production. Some of that was due to improvements in how the updated Model 3 was made in China and how the upcoming Cybertruck was made. But it looks like Tesla was trying to balance out its growing stock. The global electric vehicle EV giant will hold its earnings call by the middle of October to share full third quarter results.
Bulls were already looking past Q3 deliveries, betting on a strong Q4 recovery and the expected launch of the Cyber Truck. We are now about to enter the next stage of growth for Tesla around the world with a Model 3 refresh taking center stage in China and production of the Cyber Truck set to begin around Halloween Wednesday.
Bush analyst Dan Ies who has been a Tesla bull for a long time wrote on Friday that dudes bank analyst Emanuel Rosner recently gave a more bearish view. lowering the firm's price target on Tesla stock from $300 to $285. Roser projected that Tesla would deliver $44,000 cars. In addition, Roser sees a big risk that the consensus estimates for 2024 will be wrong because of slow volume growth.
Deutsche Bank thinks that 2.1 million units will be delivered in 2024, which is less than the current estimate of 2.3 million units. Rosner also thinks that EPS will be $3.90 in 2024, which is less than the profit level in 2022. According to facts set, Wall Street predicts that Tesla will earn $468 per share in 2024.
You may be wondering why retail investors are pouring money into Tesla shares when the stock market is becoming more and more seen as a bet on AI. According to Vander Research, traders have increased their bullish bets on the EV maker this year with a 10-day moving average of retail flows into Tesla far outpacing flows into other EV stocks as well as flows into AI stocks.
EV stocks other than Tesla make up only 6% of daily average Tesla purchases. This is down from the fourth quarter of 2020 and the first quarter of 2021 when they made up 5 to 10% of daily average Tesla purchases. But more money isn't just being put into Tesla because people think it will be the winner in the EV race.
Vander says that the rise in Tesla shares in 2023 is partly due to investors excitement about artificial intelligence AI, which has also driven up large cap tech stocks. From a retail perspective, this hardly looks like a resurgence of the TV theme. The research group said a note on Thursday. Therefore, we can confidently say that retail investors see Tesla as an AI proxy more than an EV story, at least for now.
Institutional investors have also increase their Tesla bets. The note was another sign that people want to buy Tesla stock. Even though Elon Musk, Tesla CEO, has been warning for a long time about the risk of AI, he has been hinting for months that Tesla might use AI in its own business. During the excitement surrounding chat GPT, he quietly started a new AI company in Nevada called XA, which he said could release a Chat GPT competitor called Truth GPT.
Even though it did well in 2023, Tesla is still facing economic headwinds as high inflation and interest rates continue to hurt the market as a whole. The company has also had to cut prices on its car models many times in the past year to compete with other companies. But these price cuts are eating into its profit margins.
WSR recipe Biz as of March of this year. The stock was trading around $1,000, up more than 700% from its initial price of $17 a share in June 2010. According to Wall Street Zen, retail investors own the most shares at about 1.36 billion or 43.6%. Institutional investors own 42.84 84 billion shares, down from 43.019609 shares last year. Company executives own 14% of the stock or 442.com.
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