Tesla shares swung sharply this week after missing first-quarter delivery estimates, according to Barron's. They briefly surged on a report that Elon Musk might step away from DOGE, then fell again after Trump’s new tariff plan. First-quarter deliveries are down 13% year-over-year, marking its worst quarterly drop ever and missing consensus by over 10%. Analysts said the Model Y upgrade affected production and sales, with some warning that Musk’s political activity may be hurting demand. While price targets were lowered, others still expect a rebound in the second quarter. Shares were up on Wednesday's closing but declined in Thursday’s premarket trading.
Category
🗞
NewsTranscript
00:00It's Benzinga bringing Wall Street to Main Street.
00:02The share swung sharply this week after missing first quarter delivery estimates,
00:05according to Barron's. They briefly surged on a report that Elon Musk might step away from Doge,
00:10then fell again after Trump's new tariff plan. First quarter deliveries are down 13 percent
00:15year over year, marking its worst quarterly drop ever and missing consensus by over 10 percent.
00:20Analysts said the Model Y upgrade affected production and sales,
00:24with some warning that Musk's political activity may be hurting demand. While price targets were
00:28lowered, others still expect a rebound in the second quarter. Shares were up on Wednesday's
00:33closing, but declined in Thursday's pre-market trading. For all things money, visit Benzinga.com
00:38slash GSTV.