Forwarded from Jay
Dan Ives, analyst with Wedbush Securities, who has been bullish on Tesla shares. While he said he remains bullish long-term, he called the quarter “a train wreck into a brick wall quarter.”
Ives said the biggest problem is likely Tesla’s sales in China, which he estimates fell 3% compared to a year earlier. He described Chinese demand as “very soft coming out of the gates for 2024.”
“While we were anticipating a bad first quarter, this was an unmitigated disaster that is hard to explain away,” he said in a note to clients. “We view this as a seminal moment in the Tesla story for Musk to either turn this around and reverse the black eye first quarter performance. Otherwise, some darker days could clearly be ahead that could disrupt the long-term Tesla narrative.”
Ives said the biggest problem is likely Tesla’s sales in China, which he estimates fell 3% compared to a year earlier. He described Chinese demand as “very soft coming out of the gates for 2024.”
“While we were anticipating a bad first quarter, this was an unmitigated disaster that is hard to explain away,” he said in a note to clients. “We view this as a seminal moment in the Tesla story for Musk to either turn this around and reverse the black eye first quarter performance. Otherwise, some darker days could clearly be ahead that could disrupt the long-term Tesla narrative.”
Tesla Stock Ticker
https://fxtwitter.com/marinadovexo/status/1774976107575464419
A Google driverless car torched in SF.🔥15👍1😭1
Forwarded from Hacker News
Tesla releases Q1 2024 deliveries: disastrous results (Score: 150+ in 1 day)
Link: https://readhacker.news/s/65fbM
Comments: https://readhacker.news/c/65fbM
Link: https://readhacker.news/s/65fbM
Comments: https://readhacker.news/c/65fbM
Electrek
Tesla (TSLA) releases Q1 2024 deliveries: disastrous results
Tesla has released its Q1 2024 delivery and production numbers: confirming the suspicion that it is not growing anymore. It’s...
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Forwarded from Obsidian [it/its]
Elon pissed off his far-right evangelical base by referring to the existence of dinosaurs in his latest racist "joke"
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