Tesla Stock Falls As Cybertruck Faces Unexpected Delays
Portfolio Pulse from Adam Eckert
Tesla Inc (NASDAQ:TSLA) shares fell to a near-year low due to Cybertruck delivery delays and reports of workforce layoffs, including the departure of key executives Drew Baglino and Rohan Patel. The company faces weakening demand trends and is anticipated to report its first negative free cash flow quarter since 2020. Analysts expect EPS of 53 cents and revenue of $22.605 billion for the upcoming earnings, while GLJ Research analyst Gordon Johnson maintains a Sell rating, lowering the price target from $23.53 to $22.86.
April 16, 2024 | 7:09 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Tesla Inc faces stock pressure from Cybertruck delays, workforce layoffs, and the departure of key executives, with analysts expecting challenging upcoming earnings.
The combination of Cybertruck delivery delays, significant workforce layoffs, and the departure of key executives directly impacts Tesla's operational and financial outlook. These developments, alongside the anticipation of a negative free cash flow quarter and lowered analyst expectations, contribute to a negative short-term outlook for TSLA's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100