Why Shares of Tesla Bobbed and Weaved Today: Is the Stock Back on Track?
Shares of the electric carmaker Tesla (NASDAQ: TSLA) started this morning in the red only to reverse course and work their way firmly into positive territory, with shares trading 5% higher as of 2:15 p.m. ET today. There was a lot of news about Tesla, including first-quarter deliveries and reports that CEO Elon Musk may soon end his involvement in government affairs.The morning started poorly for Tesla after the company reported fewer than 337,000 deliveries in the first quarter of the year, worse than analysts had expected. Deliveries fell 13% year over year and hit their lowest level since 2022.Multiple reports this year have shown that sales of Tesla vehicles are down globally. Customers seemingly disapprove of Musk's involvement with the Department of Government Efficiency (DOGE), an effort by President Donald Trump's administration to slash government spending to try to fix fiscal budgetary concerns.Continue reading
Shares of the electric carmaker Tesla (NASDAQ: TSLA) started this morning in the red only to reverse course and work their way firmly into positive territory, with shares trading 5% higher as of 2:15 p.m. ET today. There was a lot of news about Tesla, including first-quarter deliveries and reports that CEO Elon Musk may soon end his involvement in government affairs.
The morning started poorly for Tesla after the company reported fewer than 337,000 deliveries in the first quarter of the year, worse than analysts had expected. Deliveries fell 13% year over year and hit their lowest level since 2022.
Multiple reports this year have shown that sales of Tesla vehicles are down globally. Customers seemingly disapprove of Musk's involvement with the Department of Government Efficiency (DOGE), an effort by President Donald Trump's administration to slash government spending to try to fix fiscal budgetary concerns.
