From Investor’s Business Daily: 2024-03-26 15:04:00

Tesla insurance registrations in China dropped compared to last quarter and the same period last year, while Q1 deliveries may fall short of Wall Street estimates. Despite this, Tesla stock rose after announcing a one-month free trial for its full self-driving service.

In China, Tesla saw 13,700 insurance registrations last week, up from the prior week but down 14% from a year ago. With one week left in Q1, total registrations are down over 5% compared to 2023. Wall Street forecasts Q1 deliveries of 474,000 units, but expectations are lowering.

Tesla is offering a one-month free trial of its full self-driving service in the U.S., with CEO Elon Musk requiring installation and activation of the latest version for North American customers. Meanwhile, Tesla stock jumped 4% Tuesday, and Cathie Wood’s Ark Invest funds purchased over 163,000 shares.

As Tesla prepares to report Q1 2024 deliveries, predictions indicate earnings may decline compared to 2023. Analysts expect EPS of $2.95 for 2024, over a 5% drop from the previous year. Despite this, Tesla stock saw a 4.4% gain last week, the first weekly increase in three weeks.



Read more at Investor’s Business Daily: Tesla Stock: China Numbers Are Down But All Eyes Are On FSD As Cathie Wood Keeps Buying