Tesla Bull Anticipates Lower Q1 Volume, But Does Not Rule Out Stock Rally If This Happens
Portfolio Pulse from Shanthi Rexaline
Tesla, Inc. (NASDAQ: TSLA) is expected to report a year-over-year decline in Q1 deliveries, the first since 2020, despite significant price cuts and incentives. Future Fund's Gary Black anticipates a weak number but suggests the stock could rally if deliveries exceed last year's, despite falling short of Wall Street's expectations. Tesla shares have dropped 29% year-to-date but rose 1.10% in premarket trading.
April 01, 2024 | 9:52 am
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Tesla is bracing for a potential first year-over-year sales decline since 2020 in Q1, despite price cuts and incentives. However, the stock could rally if deliveries exceed last year's figures.
The anticipation of a year-over-year decline in deliveries sets a low bar for Tesla, which could lead to a positive market reaction if the actual numbers exceed last year's, despite not meeting Wall Street's expectations. The premarket trading uptick suggests investors might be optimistic or see the potential for a rally.
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IMPORTANCE 90
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