From Nasdaq: 2024-04-02 20:36:47

In March, Tesla (NASDAQ: TSLA) faced challenges with production and demand, leading to a 13% stock drop. An arson attack shut down its German factory, causing further setbacks. Analysts expressed concern over first-quarter results, with Citigroup and Wells Fargo downgrading the stock. Tesla raised Model Y prices, causing speculation about profits.

Tesla’s Q1 deliveries disappointed, with a 9% drop in deliveries from the previous year. Production hiccups were blamed on supply chain delays and Model 3 ramp-up. Tesla’s Q1 earnings report on April 23 is expected to show revenue and profit declines. The company was the worst-performing S&P 500 stock in Q1.

Analysts predict a challenging 2024 for Tesla despite long-term potential. The company’s stock was down 5% in April after lackluster Q1 results. Despite challenges, Tesla made it onto a list of 10 best stocks for investors, but investors may be overlooking other opportunities. Citigroup and Wells Fargo are advertising partners of The Ascent, a Motley Fool company. Tesla remains highly discussed among investors.



Read more at Nasdaq: Why Tesla Stock Lost 13% in March