'Will send bears into hibernation mode': Here's how Wall Street is reacting to Tesla's 2nd-quarter deliveries beat
Model 3 and Model Y made up the bulk of the deliveries, with the two models accounting for a combined 447,000. Model Y deliveries were up an astounding 87% year over year. The strong delivery beat came after the company reduced its prices earlier this year.Wedbush: 'Will send bears into hibernation mode'
"We believe [Tesla's 2Q deliveries] is proof to combat the narrative of a murky backdrop and put the bears back into hibernation mode in what could be a short covering for the ages... Price cuts implemented early in 2023 have paid major dividends for Musk as demand appears to remain very strong and production efficiencies have allowed for the massive deliveries beat this quarter. Overall, we believe Tesla is still on track to hit its 1.
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