Tesla's Stock Plummets as Wall Street Bites Nails Over Upcoming Delivery Numbers

As Tesla gears up to unveil its first-quarter delivery numbers, Wall Street's mood swings between apprehension and the kind of nail-biting usually reserved for horror movie finales.

With shares taking a nosedive by 29% in the first quarter-the stock's gloomiest performance since the twilight days of 2022-it's clear that Tesla is navigating through some choppy waters.

(Photo : Getty Images) Elon Musk

A Quarter to Forget

Let's not sugarcoat it: Tesla's recent journey has been less about cruising down the fast lane and more about dodging potholes. Here's the rundown:

  • The first quarter witnessed Tesla shares plummeting by 29%, marking not only the worst period for the stock since late 2022 but also its third-steepest quarterly drop on record. 

  •  Concerns are mounting among investors, particularly with Tesla facing stiff competition from Chinese automakers and dealing with disruptions in Europe. It's like Tesla is playing a game of high-speed chess, except every piece is a potential roadblock.

  • According to data from S3 Partners, Tesla shorts are laughing all the way to the bank, up more than $5.77 billion in 2024. It seems betting against Tesla this year has become a lucrative pastime for some.

Deliveries: The Moment of Truth

With Tesla set to report its first-quarter deliveries on April 2, the tension is palpable. Here's what's at stake:

  • Wall Street's Watchful Eyes: Analysts and investors alike are holding their breath, with delivery estimates hovering around 457,000 units according to FactSet. Yet, the whispers on Wall Street suggest expectations might be a tad lower, thanks to the company's recent hurdles.

  • A Test of Resilience: This upcoming report isn't just about numbers; it's a litmus test for Tesla's resilience. Can Elon Musk's brainchild steer itself out of this rut and reassure jittery investors? Or will it fuel further doubts about its global dominance?

Looking Ahead

Despite the current turbulence, it's worth remembering that Tesla has been down this road before. The company has a knack for pulling rabbits out of hats just when you think the show's over. 

In the grand scheme of things, Tesla's current woes might just be a blip on the radar. But for now, Wall Street waits with bated breath, ready to dissect every digit of those delivery numbers. Will Tesla manage to shift gears and accelerate out of this slump? Only time will tell, but one thing's for sure: the road ahead promises plenty of twists and turns.

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