Tesla (TSLA, Financial) shares experienced a downward movement, falling by 3.9% due to investor concerns about the company's ability to meet its ambitious delivery targets. Although the stock previously saw optimism driven by a strong Q3 delivery report, recent market sentiments have questioned whether Tesla can achieve its goal of delivering over 700,000 electric vehicles in Q4 to meet the 2 million target for the year.
Despite the recent dip, Tesla remains a key player in the electric vehicle market, with a Q3 delivery report showing nearly 463,000 vehicle deliveries, a 6.4% increase compared to the previous year. This growth reflects Tesla's robust industry presence, driven by its vertically integrated approach to electric vehicles and autonomous driving software.
Currently trading at approximately $239.3, Tesla exhibits a Price-to-Earnings (P/E) ratio of 67.22 and a Price-to-Book (P/B) ratio of 11.5. The company's market capitalization stands at about $764.5 billion, with a GF Value of $258.17, indicating that the stock is [GF Value](https://www.gurufocus.com/term/gf-value/TSLA). However, the stock's performance is influenced by several warning signs including a low Piotroski F-Score of 3, suggesting potential operational challenges.
Investors are on the lookout for updates from the upcoming Robotaxi event, where CEO Elon Musk is expected to provide insights into the monetization strategies for Tesla's self-driving software. This event could play a pivotal role in shaping Tesla's future in autonomous vehicle technology, as noted by analysts.
In contrast, Polestar Automotive (PSNY) shares surged by 41% following an 82% increase in EV deliveries from Q1 to Q2. This increase was further amplified by a short squeeze due to the high percentage of shares sold short. Meanwhile, Nikola (NKLA) shares initially fell by 31% but recovered half of September's losses. Despite an 80% decline year-to-date, Nikola is focusing on expanding its hydrogen fuel cell truck infrastructure with 88 trucks wholesaled in Q3, bringing the annual total to 200.
