Heard on the Street: Elon Musk’s electric car company might report record quarterly deliveries this week, but a look under the hood is less pleasing
Tesla Inc. ended 2019 with a near-record valuation thanks to a nearly 70% rally in the stock price since late October. But investors should be careful not to confuse a buoyant stock price with a sustainably profitable business.
Fourth-quarter vehicle deliveries, expected later this week, might keep the momentum going. Analyst consensus calls for Tesla to deliver 106,000 cars in the quarter, according to FactSet. That would be a record for the electric auto maker and amount to roughly 17% unit growth from a year earlier....
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