Tesla Inc. (NASDAQ: TSLA) shares are expected to react to a few catalysts in the unfolding week, and an analyst is not too optimistic about their performance on Monday.
What Happened: Future Fund's Gary Black, a Tesla bull, said in a tweet that he expects the stock to fall on Monday as it remains on track to react to a few catalysts.
Third-quarter deliveries came in at 344,000 compared to Wall Street's expectations of 358,000, the fund manager noted. He suggested that the Street will likely overlook the management's explanation of smoothing out quarter-end deliveries to reduce transit costs.
The AI Day 2022 held late on Friday wouldn't have much of an impact on the stock, added Black.
He also noted that the deposition of Tesla CEO Elon Musk in the Twitter Inc. (NYSE: TWTR) lawsuit is slated for Oct. 6 and 7.