So whether the best performing stock of 2020 can get back on track will depend greatly on what investors hear Monday evening, when Tesla releases its second quarter results.
Unlike other automakers, Tesla normally reports only global numbers, and doesn’t break down sales by country or market. But if it wants to assure investors, it may need to give details on its sales in China, which is not only the largest market for all auto sales but also the major market with the greatest share of sales going to EVs.
“The China growth stories is the top of the list for Tesla,” said Dan Ives, tech analyst with Wedbush Securities and a Tesla bull. “This is their key market, we believe 40% of their sales will come from there next year. I think that’s the linchpin to the stock going up or down.”