Tesla shares dropped almost 6% on Monday, a day ahead of the company's first-quarter earnings report. Investors are seeking answers about CEO Elon Musk's plans for the automaker, as he spends much of his time with the Trump administration, slashing the U.S. federal government.
Tesla Inc (NASDAQ:TSLA) stock is down 7.1% to trade at $224.28 at last glance, one of the worst-performing Nasdaq Composite (IXIC) components today.
Brian Mulberry says the "most likely outcome" for Tesla's (TSLA) earnings will be a decline in vehicle unit sales. However, there is a profitable model he sees in the Mag 7 giant's energy business.
Tesla's "company update" on Tuesday will offer insight into its performance amid a challenging year. Watchers will be listening for how Elon Musk backlash has affected Tesla and a potential DOGE end-date for the CEO.
As the market braces for Tesla's earnings report, the confluence of tariff pressures, political headwinds, and uncertainty surrounding the Robotaxi launch create a formidable challenge for the EV giant.
Analysts at Wedbush have defended their bullish position on Tesla Inc (NASDAQ:TSLA) despite its ongoing challenges ahead of the company's first quarter earnings report due after markets close on Tuesday. “As one of the biggest supporters of Tesla over the last decade we have been through many highs and lows on the Tesla story and each time with the back against the wall [CEO Elon] Musk was able to turn things around on the Tesla story,” they wrote in a note.
Tesla TSLA has long been the poster child of the electric vehicle (EV) revolution. Since its IPO in 2010, this U.S.-based company has grown into a global icon, known for its sleek designs, bold innovation and a loyal fan following.
U.S. equities sank at midday after President Donald Trump again blasted Federal Reserve Chair Jerome Powell's leadership of the central bank, and there was little news about potential easing of U.S. tariffs. The Dow Jones Industrial Average, S&P 500, and Nasdaq all fell at least 2.7%.
China's move to impose strict export controls on rare earth elements used in car production has reportedly sparked fears of potential shortages.
TSLA delays the launch of its much-awaited affordable vehicle, which is a stripped-down version of its popular Model Y SUV, in the United States.
Several investors worry that Tesla Inc. (NASDAQ: TSLA) CEO Elon Musk is spending too much time on a Trump administration project called DOGE, or Department of Government Efficiency, which was created to take hundreds of billions of dollars out of the federal budget.
Kevin Hincks reports from the @CboeGlobalMarkets shortly before the opening bell after a long weekend. He believes "earnings and headlines are going to take over this market" until there's more news on trade deals.