Tesla prepares to report earnings after a quarter full of mixed messages and volatile stock price action
Tesla shifts into the earnings lane after the closing bell Wednesday with Q1 results that many analysts expect to be as inspiring as a flat tire—and that’s after a couple weeks of rough riding.
Last week, TSLA announced a shakeup of its board—something some analysts thought could be tied to Musk’s tussle with the Securities and Exchange Commission . The company said that four board members will be stepping down over the next two years as the company shrinks the board. Also on Monday, TSLA said it was sending a team to China to investigate a parking garage video that showed a fire apparently erupting under and around a parked Tesla. There’s no indication that the Tesla car was the source of the fire or how it might have started, but the video appeared to catch investor attention.
On April 3, TSLA said Q1 deliveries across all three models plunged 31% to 63,000 cars from Q4, which, coupled with pricing adjustments, would put a dent in Q1 net income. Shares tumbled 8% on the news.
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