From Fortune:

Tesla stock plummeted more than 12% after missing analysts’ estimates in Q4 and predicting notably lower EV sales growth this year, resulting in the worst single-day performance since September 2020.

Critics panned Tesla’s earnings call, with CEO Elon Musk providing minimal answers and frustration over declining margins and never-ending EV price cuts.

Tesla reported Q4 2023 revenue of $25.17B, below Wall Street’s $25.64B estimate, with a 3% increase from a year ago, and a gross profit margin of 17.6%, down from 23.8% YoY.

Musk predicted that Tesla’s $25,000 entry-level EV could launch by late 2025, but provided superficial comments about his new humanoid robot and full-self-driving beta testing.

Despite weak earnings, some analysts, like Wedbush’s Ives and CFRA’s Nelson, maintain bullish ratings on Tesla, citing a long-term AI and EV growth story.

On the other hand, Tesla bears like Gordon Johnson of GLJ Research, retained a “sell” rating, criticizing Musk as the world’s most successful sleazy used car salesman.



Read more: Tesla bull rips Elon Musk’s ‘train wreck’ earnings call