With the all-important quarter end approaching for auto delivery numbers, the Tesla email “leak-mill” is starting up again as it tends to do around 2-3 weeks before every quarter end, and moments ago Reuters reported that according to an internal email seen by the news agency, Tesla CEO Elon Musk asked employees to “go super hardcore” to make up for production “challenges” early in the third quarter and “ensure a decent Q3 delivery number.”
“The end of quarter delivery wave is unusually high this time, as we suffered (like the whole industry) from extremely severe parts shortages earlier this quarter” Musk explained.
The Reuters report was parsed out in several early headlines, and when algos read the “challenging” part, proceeded to sell TSLA stock as shown below. To explain just how “challenging” the quarter was, Musk said that that Tesla built “a lot of cars with missing parts that needed to be added later.”
However, just a few seconds later, when Reuters tried to abbreviate what was fundamentally an ominous warning from Musk, namely that “This is the biggest wave in Tesla history, but we got to get it done”, the Reuters headline creator instead delivered it as if the biggest wave refers not to the challenges facing the company – i.e., negative – but rather to the number of deliveries, which any algo would instantly interpret as positive:
- TESLA CEO SEES ‘BIGGEST WAVE IN TESLA HISTORY’ OF END-OF-QUARTER DELIVERIES IN Q3 -INTERNAL EMAIL
This headline was enough to reverse the initial drop in TSLA stock and push it higher, even if the headline misrepresented what Musk was actually saying regarding the biggest wave.”
We now have to wait several weeks to find out if Tesla employees will be up to the challenge of going “super hardcore” to offset the “biggest wave in Tesla history.”
