Here come Tesla's earnings
- Tesla will report third-quarter earnings Wednesday afternoon.
- Musk has previously said the company could be cash flow positive this quarter.
- All eyes will be on the Model 3's average selling price, a major component of the company's profitability.
- Adjusted earnings: -$0.15 per share
- Revenue: $6.315 billion
Langan's price target for Tesla is $190, much lower than Wall Street's average price target of $301 - roughly in line with the stock's price Wednesday afternoon.Shares of Tesla had sank from previous highs on Wednesday, and were trading up about 0.4% Wednesday afternoon. Options pricing was implying a move of 7% in either direction following the earnings report, according to data from Bloomberg.Short sellers, or those investors betting against Tesla's stock price, had increased their bets ahead of the report, with nearly $10 billion riding against the stock. Advertisement
Check back after markets close for Tesla's full earnings report.