Tesla stock is up even as deliveries are expected to fall
Analysts’ estimates for Tesla’s first-quarter deliveries, which are expected to be released tomorrow, keep going down. All of the estimates listed this month on FactSet expect deliveries to decline year over year, as Tesla faces increased competition, negative public sentiment, and mostly poor sales indicators around the world. European numbers out today look dismal.
Even still, Tesla’s stock is up 6% today. Perhaps investors are posturing ahead of the report, thinking maybe some of Tesla’s recent stock declines have oversold the sales drop. Or perhaps it has something to do with April Fools’ Day.
A search for Tesla news on Google just brought up a link to Yahoo that shows a made-up headline about Warren Buffett buying the electric vehicle company for $1 trillion. The link doesn’t go anywhere and, confusingly, Yahoo also has a story titled, “No, Warren Buffett didn’t buy Tesla, and all the other April Fools’ Day jokes we’ve caught today,” where it says GoBankingRates was the source of the story.
