TSLL falls more than 3% as Tesla delivery report looms and Roadster slips again

  • TSLL fell more than 3% Tuesday while Tesla shares declined roughly 1.5%.
  • TSLL seeks to provide twice Tesla’s daily performance before fees and expenses.
  • Tesla moved Roadster reveal from Oct. 1 to Oct. 15 because of severe weather.

Tesla’s second-generation Roadster reveal has been delayed from Oct. 1 to Oct. 15, but traders are focusing more closely on Friday’s third-quarter delivery report. Direxion Daily TSLA Bull 2X Shares (TSLL), a leveraged ETF (fund designed to amplify daily returns), fell more than 3% Tuesday while Tesla shares declined roughly 1.5%. TSLL seeks twice Tesla’s daily performance before fees and expenses, making it a tactical trading vehicle rather than a conventional long-term holding. The fund has about $3.9 billion in assets, a 0.83% expense ratio and exceptionally high trading activity, including more than 64 million shares Monday after nearly 90 million Friday. Wall Street delivery forecasts range from roughly 422,000 to 482,000 vehicles, while Goldman Sachs has lowered its estimate to 435,000. Tesla delivered 480,126 vehicles in the second quarter, well above the company-compiled consensus of 406,024, underscoring the potential for a sharp TSLL reaction to Friday’s figure.

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