Complex Macro Economic Environment Dragged Tesla, Inc. (TSLA) in Q1
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Tesla, Inc. (TSLA) faced challenges in Q1 due to a complex macroeconomic environment, factory shutdowns, competitive risks in China, and vehicle price reductions. The company's shares fell 29.3% in Q1. Production was negatively impacted by supply chain interferences, sabotage in a Tesla factory's power supply, and a factory closure for the launch of the refreshed Model 3. Despite these challenges, Tesla delivered its highly anticipated Cybertruck pickup and launched version 12 of its Full Self Driving product. The company expects energy storage sales to continue growing and believes its core automotive segment will recover, as EVs still account for only around 10% of global vehicle sales. Tesla's trailing 12 months revenue is $94.75 billion, and it had a negative free cash flow of $2.5 billion in Q1. 74 hedge fund portfolios held Tesla at the end of Q1.
#Tesla #Tsla #Q12024 #ElectricVehicles #MacroeconomicEnvironment
https://finance.yahoo.com/news/complex-macro-economic-environment-dragged-082504871.html
Yahoo Finance /
npub1j0e…3yhd
2024-05-28 11:20:50
Author Public Key
npub1j0e6zhr82q4par2f4ecr67zvj0ltv8qgqr8v3llw2ed6qvdrm4fs9s3yhdPublished at
2024-05-28 11:20:50Event JSON
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"content": "Complex Macro Economic Environment Dragged Tesla, Inc. (TSLA) in Q1\n==========\n\nTesla, Inc. (TSLA) faced challenges in Q1 due to a complex macroeconomic environment, factory shutdowns, competitive risks in China, and vehicle price reductions. The company's shares fell 29.3% in Q1. Production was negatively impacted by supply chain interferences, sabotage in a Tesla factory's power supply, and a factory closure for the launch of the refreshed Model 3. Despite these challenges, Tesla delivered its highly anticipated Cybertruck pickup and launched version 12 of its Full Self Driving product. The company expects energy storage sales to continue growing and believes its core automotive segment will recover, as EVs still account for only around 10% of global vehicle sales. Tesla's trailing 12 months revenue is $94.75 billion, and it had a negative free cash flow of $2.5 billion in Q1. 74 hedge fund portfolios held Tesla at the end of Q1.\n\n#Tesla #Tsla #Q12024 #ElectricVehicles #MacroeconomicEnvironment\n\nhttps://finance.yahoo.com/news/complex-macro-economic-environment-dragged-082504871.html",
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