X - Tesla Analysts Size Up Ugly Q1 Numbers: Disaster Train Wreck Horror Show Nightmare — Will Storm Pass Or Are Darker Days Ahead? | Benzinga
Tesla Inc’s (NASDAQ:TSLA) weak first-quarter production and delivery numbers have left even the most bullish Tesla analysts shaking their heads.
Fork In The Road: Tesla posted its first year-over-year decline in deliveries since 2020 on Tuesday, which sparked a selloff in shares. The EV maker said the decline in volumes was partially due to the production ramp of the updated Model 3, as well as factory shutdowns resulting from the Red Sea conflict and an arson attack at its German gigafactory.
In a new note to clients, Wedbush analyst Dan Ives called Tesla’s first-quarter deliveries print an “unmitigated disaster” that’s “hard to explain.”
“We view this as a seminal moment in the Tesla story for Musk to either turn this around and reverse the black eye 1Q performance. Otherwise, some darker days could clearly be ahead that could disrupt the long-term Tesla narrative,” Ives said in the note.
“While we remain bullish ...