TSLA
📉 Tesla reported disappointing Q1 results, with automotive gross margins falling and net profits plummeting 71%, missing revenue estimates.
🤔 Despite poor fundamentals, the stock is rising in premarket trading, suggesting market optimism outweighs the negative data.
🗣️ Elon Musk’s announcement to dedicate more time to managing his companies, potentially reducing involvement with the Trump administration, may be boosting investor confidence.
@marcosemmimfp:
“Tesla reported that the first-quarter automotive gross margin, excluding regulatory credits, fell to around 12.5% from 13.6% in the fourth quarter, according to Reuters calculations, compared to market expectations of 11.8%. Additionally, net profits plummeted by 71%. The electric vehicle manufacturer reported revenue of $19.34 billion for the January-March quarter, compared to estimates of approximately $21 billion. So, tricky. Elon Musk announced, he says, that he would significantly reduce the time he dedicates to the Trump administration starting next month and will dedicate more time to managing his companies. Uh, in general, well, the hard work, well, necessary for the team’s formation, he says, working in the government, healing his companies’ finances, and so on. Also, Trump’s announcements regarding the moderation of aggressive trade stances with China and his openings for new agreements, he says, ‘This announcement has been received by the markets with strong actions in the premarket.’ The companies are reporting bad balances, and yet they rise.”
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