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Here’s Why Tesla Inc (TSLA) is in the Spotlight

Tesla Inc (NASDAQ:TSLA) is in the spotlight this weekend after it released its much anticipated estimated delivery numbers for the first quarter. Specifically, Elon Musk’s EV maker delivered just over 25,000 vehicles for the time period, with around 13,450 being the Model S and 11,550 being the Model X. All in all, the ~25,000 number marked a 69% increase year-over-year, and was a new quarterly record. With that said, the numbers aren’t final as of yet, and the final numbers could change by up to 0.5%. In addition to the number of deliveries, Tesla Inc (NASDAQ:TSLA) also disclosed that it produced 25,418 vehicles for the time period and that 4,650 vehicles were ‘in transit’. Given that many bears were expecting lower delivery numbers (of 24,000 or less), Tesla could be volatile on Monday.

What Does The Smart Money Sentiment Say?

At Insider Monkey, we’ve developed an investment strategy that has delivered market-beating returns over the past 12 months. Our strategy identifies the 100 best-performing funds of the previous quarter from among the collection of 700+ successful funds that we track in our database, which we accomplish using our returns methodology. We then study the portfolios of those 100 funds using the latest 13F data to uncover the 30 most popular mid-cap stocks (market caps of between $1 billion and $10 billion) among them to hold until the next filing period. This strategy delivered 39.7% gains over the past 12 months and outperformed the 24.1% gain enjoyed by the S&P 500 ETFs. Our enhanced small-cap hedge fund strategy returned more than 45% over the last 12 months and outperformed SPY by more than 30 percentage points over the last 4.5 years (see details here).

Of the 742 elite funds we track, 38 funds owned $1.19 billion of Tesla Inc (NASDAQ:TSLA) and accounted for 3.50% of the float on December 31, versus 34 funds and $1.01 billion respectively on September 30.

The Bottom Line

Tesla Inc (NASDAQ:TSLA) is trending due to the EV maker reporting rather solid delivery and production numbers for its first quarter. Elon Musk and Co will need to continue to execute if they are to achieve their ambitious mission of basically disrupting the entire auto industry and producing half a million vehicles a year by 2018. For those of you interested, check out this article about the 8 countries that produce the most electricity in the world.

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