Yahoo finance tsla the "yahoo finance tsla" pre-market

The "yahoo finance tsla" pre-market update notes Tesla up 1.7%, driven by reports of increased order backlog in Europe. Chartists point to a possible inverted head-and-shoulders pattern forming—a classic bullish reversal setup. Allie Canal is a Senior Reporter at Yahoo Finance. Follow her on X @allie_canal , LinkedIn, and email her at [email protected]. “It’s a mix of expectations being too high and then valuation. The stock is now trading well north of 200 times our EPS estimate for next year following this rally of over 100% since the stock bottomed in early April. I think what other analysts are missing are the impact of the one big beautiful bill, specifically some of the measures in there related to EVs. The big one for Tesla Inc (NASDAQ:TSLA) though is the emissions tax credit. They have auto regulatory credit revenue which has been a very high margin fast growing revenue stream. It was about 2.8 billion in revenue for Tesla Inc (NASDAQ:TSLA). But with the signing of that bill in early July basically that revenue went away overnight, most of which dropped right down to the bottom line. So we think the earnings impact of that isn’t fully understood by analysts and for that reason we think the Q3 estimates are too high and then looking out over the next four to six quarters estimates appear too high as well.” According to "yahoo finance tsla", institutional ownership remains above 44%, reflecting continued confidence among mutual funds and ETFs specializing in growth equities. This base of support often mitigates sharp downside corrections.