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.
Tesla investors will be eager to ask CEO Elon Musk two pressing questions when the electric vehicle maker reports results on Tuesday: when will the affordable vehicle launch, and is the robotaxi plan on schedule?
Ahead of a crucial earnings report, Elon Musk is under pressure to choose between Tesla and DOGE. Wedbush analyst Dan Ives warned Tesla faces a "code red" if Musk doesn't step back from his government role.
Tesla is set to report first-quarter earnings on Tuesday. Wall Street is looking for earnings per share of 39 cents, according to FactSet, down from 45 cents a year ago.
Tesla (TSLA -0.13%) stock peaked at $480 per share in December. At the time, Donald Trump had just won the presidential election with tremendous financial support from CEO Elon Musk, and investors were confident the company would benefit from their relationship.
More than 70 Chinese and international automotive brands will showcase more than 100 new or refreshed models at the Shanghai auto show this week, intensifying already cutthroat competition in the world's premier market for electric vehicles and hybrids.
Despite a 40% YTD drop, I remain bullish on Tesla due to its diversified revenue streams and potential regulatory tailwinds. Tesla's Q1 delivery miss is minimal in the long run, with the company benefiting from a transforming auto industry and stronger non-auto revenues. Valuation suggests a 35.24% upside, projecting a share price of $325, driven by robust growth in Tesla's energy and autonomous driving sectors.