Tesla sinks as the EV maker's 3rd-quarter deliveries notch a new record but fall short of expectations

• Tesla shares dropped Monday after the EV maker's Q3 report on deliveries missed analyst expectations.

• Deliveries of 343,830 marked a new record but also fell short of an estimate of roughly 358,000 vehicles.

• The company cited logistics issues for the production and delivery gap of 22,093 vehicles.

Tesla shares hit their lowest price in more than two months Monday after the electric vehicle maker posted quarterly deliveries that missed expectations even as they set a record.

Shares fell 7% shortly after the opening bell to $245.76, the weakest price since July 20.

Tesla on Sunday said it produced 365,923 vehicles and delivered 343,830 in the third quarter. The deliveries marked a new record but were below the nearly 358,000 vehicles expected in a Bloomberg survey of analysts.

The company cited delivery issues for the production and delivery gap of 22,093 vehicles.