Tesla Shares Set For Lackluster Kickoff In 2024: What's Holding Them Back?
Portfolio Pulse from Shanthi Rexaline
Tesla, Inc. (TSLA) shares are down in premarket trading as investors await the Q4 deliveries report. The consensus estimate for Q4 deliveries is 480,483 units, which would leave Tesla short of its 1.8 million annual goal. Tesla struggled with demand in 2023 despite price cuts, amid a tough economic climate with rising interest rates. The Q4 earnings release date is also anticipated. TSLA stock fell 0.02% to $248.43 in premarket trading, after a 5.08% loss in H2 2023 but a 101% gain for the year.
January 02, 2024 | 11:14 am
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Tesla shares are down slightly in premarket trading as the market anticipates the Q4 delivery report. The company is close to its annual delivery goal but faced demand challenges in 2023. Investors are also waiting for the Q4 earnings release date.
The slight premarket decline in TSLA shares suggests investor caution, likely due to the anticipation of the Q4 delivery report and whether Tesla will meet its annual delivery target. The economic challenges and demand issues from 2023 could continue to weigh on the stock in the short term, especially if the delivery numbers disappoint. The upcoming earnings release date may also add to investor uncertainty.
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