Reported about 20 hours ago
JPMorgan has reduced its earnings estimates for Tesla, citing significant backlash against CEO Elon Musk and disappointing vehicle deliveries. First-quarter numbers revealed a drop to 336,681 vehicles, the worst since 2022, leading to forecasts of decreased earnings per share for both the first quarter and the full year. This decline follows Musk's polarizing political engagements, particularly his influence in Europe, where Tesla's sales dropped by 62% in Germany.
Source: YAHOO