Tesla’s quarterly earnings dropped by 71 percent, the company announced Monday, marking the latest sign of bad news for Elon Musk’s electric vehicle manufacturer as scrutiny of the tech billionaire persists. The electric vehicle company reported a 9 percent decline in revenue for the first three months of this year. Its earnings totaled $409 million, down from $1.4 billion in the first quarter of last year, the company said. Tesla’s stock closed Tuesday afternoon at $238 a share, a nearly 37 percent drop from the beginning of the year. The numbers, which fall far below analysts’ expectations, come amid mounting scrutiny of Musk over his leadership of President Trump’s so-called Department of Government Efficiency” cost-cutting initiative. https://thehill.com/policy/technology/5260868-tesla-earnings-drop/ This stock is going to get destroyed tomorrow
It plummeted the day before. The market did not expect worse. You can’t find an estimate that low unless I misread.
I am talking about the mkt expectation not analysts....which we don't know. I am inferring it due to the after hrs pop.
On Elon for wading too much into partisan politics, and his company is now paying the price, which is why it’s generally considered not to be a good idea.
Unless you are REI or Ben and Jerry’s and your consumer base is very partisan and you support their partisanship. But to have a firmly left consumer base and go full righty is legendary level of incompetence.
this is totally on the left and their haters- they hate Trump and the hate Elon for supporting him- they physically damage vehicles and dealerships - they harass people who have bought one- there is zero excuse for this -NONE
Any liberal motivated by politics would have cashed out for huge profits months ago… but given how this went, hopefully a lot of Trumpsters got in at the worst possible time. Was that you? Is that why you are begging liberals to love Musk again?
Just goes to show you that you better buy the car we tell you to, this is the power we have. Or maybe you are just too chicken to buy a cybertruck to own the libs.
I guess I am not authorized to post when I think someone is off topic without getting deleted. I will settle for using the approved emojis.
