Bank

2024

Gains

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 Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our&nbsp;<a href="https://tokenist.com/terms-of-service/" style="text-decoration:underline;color:#3c7b7b" target="_blank" rel="noreferrer noopener" class="deco-link">website policy</a>&nbsp;prior to making financial decisions.
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<p class="has-drop-cap">Tesla Inc. (NASDAQ: <a href="https://tokenist.com/there-is-nothing-magnificent-about-tesla-this-year-stock-down-36-ytd/" rel="dofollow" class="deco-link">TSLA</a>) shares experienced a modest uptick Tuesday, rising 2.17% to $145.13 at the time of writing, as investors eagerly await the electric vehicle maker’s first-quarter earnings report. <br><br>The company is expected to face significant challenges, with analysts projecting a <a href="https://tokenist.com/tesla-meta-microsoft-set-to-report-earnings-this-week/" class="deco-link">decrease in profitability</a> and the worst overall sales since the third quarter of 2022. The <a aria-label="consensus (opens in a new tab)" href="https://www.nasdaq.com/market-activity/stocks/tsla/earnings" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">consensus</a> earnings per share forecast stands at $0.35.</p> 
<h3 id="tesla-stock-plunged-in-2024-amid-declining-sales">Tesla Stock Plunged in 2024 Amid Declining Sales</h3> 
<p>Tesla’s Q1 vehicle deliveries <a href="https://tokenist.com/teslas-deliveries-in-q1-short-of-expectations-stock-opens-5-2-lower/" rel="dofollow" class="deco-link">fell short of expectations</a>, marking the company’s first negative annual sales growth since Q2 2020. This decline is primarily attributed to decreased demand in China and a 9% drop in electric car deliveries compared to last year’s comparable quarter. In response to these challenges, Tesla announced a <a href="https://tokenist.com/tesla-to-cut-over-10-of-workforce-amid-declining-sales-stock-dips-in-premarket/" rel="dofollow" class="deco-link">layoff</a> exceeding 10% of its workforce.</p> 
<p>Despite today’s slight gains, Tesla stock has experienced a significant drop year-to-date, falling 36% and making it the worst performer among the ‘Magnificent Seven’ tech stocks. <br><br>This stark contrast to the substantial gains recorded by tech giants like Nvidia (NASDAQ: <a href="https://tokenist.com/amd-vs-nvidia-in-2024-which-ai-stock-makes-more-sense-for-your-portfolio/" rel="dofollow" class="deco-link">NVDA</a>) and Meta Platforms (NASDAQ: META) underscores the severity of Tesla’s underperformance. Recent analyst adjustments reflect a more cautious outlook, with Deutsche Bank downgrading Tesla from Buy to Hold, citing concerns over growth and competition, particularly from China.</p> 
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<h3 id="tesla-no-longer-mangificent">Tesla No Longer Mangificent</h3> 
<p>Tesla has diverged negatively from its peers in the Magnificent Seven, significantly underperforming, while tech giants like Nvidia and Meta Platforms have recorded substantial gains. Intense <a href="https://tokenist.com/three-asian-ev-stocks-that-can-compete-with-tesla/" rel="dofollow" class="deco-link">competition</a>, especially from Chinese manufacturers, has been a critical factor in Tesla’s stock performance decline, as these competitors increasingly take market share in the EV sector.</p> 
<p>Tesla’s strategic shifts, notably its focus on advancing its <a href="https://tokenist.com/what-teslas-robotaxi-could-mean-for-its-stock-price/" rel="dofollow" class="deco-link">Robotaxi business</a> over other projects like the Model 2 vehicle, have influenced market perceptions and set a new strategic direction for the company. </p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe> 
<p><strong><em>Do you think Tesla could surprise the market with today’s earnings release? Let us know in the comments below.</em></strong></p> 
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p> 
<h3 id="br"><br></h3> 
<p>The post <a rel="nofollow" href="https://tokenist.com/tesla-stock-sees-slight-gains-as-market-awaits-q1-results/">Tesla Stock Sees Slight Gains as Market Awaits Q1 Results</a> appeared first on <a rel="nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Tesla Stock Sees Slight Gains as Market Awaits Q1 Results

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