Stocks Analysis by Investing.com (Günay Caymaz) covering: Tesla Inc, BYD Co Ltd Class A. Read Investing.com (Günay Caymaz)'s latest article on Investing.com
Investors are wary of further delivery declines and increased competition and will closely monitor Tesla's upcoming earnings report.
During the first quarter, rumors circulated that Tesla had halted its price-cutting efforts to compete and abandoned plans for affordable electric vehicles. These rumors weighed heavily on the share price, further contributing to downward pressure.The stock's value has dropped significantly, but when we look at its solid financials, the fair value analysis shows a somewhat positive outlook for the stock.
Tesla's recent decision to trim its workforce by 10% could be viewed as a strategic cost-saving measure, timed to bolster profitability.Analysts have revised down their revenue and earnings per share expectations for the first quarter. The expectation is that earnings per share will be announced as $0.56 and quarterly revenue as $23.32 billion in the earnings report to be presented on April 23.
TSLA, which continues along the falling channel, cannot see reaction purchases from the bottom line of the channel this time, as repeated 3 times before. This may be due to the company's successive bad news.
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