Investor points finger at CEO’s antics on X, but analysts say ‘train wreck’ quarter more down to problems in China and with EV demand
The criticism of Elon Musk’s behaviour came after Tesla reported its first quarterly fall in deliveries of its cars in nearly four years.The criticism of Elon Musk’s behaviour came after Tesla reported its first quarterly fall in deliveries of its cars in nearly four years.
Gerber, a vocal critic of Musk, was responding to a sales update by Tesla on Tuesday that surprised Wall Street and triggered a 5% decline in the company’s stock, compounding a fall in shares of more than 30% this year. “There were some unique factors that impacted production in the quarter, but we believe demand is slowing,” wrote analysts at the investment bank UBS. “Showing a delivery decline, especially at a rate greater than production decline, will do little to ease market concerns over growth.”
Writing on X, Munster said he believed Tesla’s problems would pass because it was making the right decisions for the long run. Meanwhile, on Wednesday, the Financial Times reported that Tesla was aboutDaniel Ives, the managing director at US financial services company Wedbush Securities, was alarmed by the sales figures, describing them as an “unmitigated disaster” that was hard to explain away.
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