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Home / Business / As the global chip crunch continued, Tesla’s stock price fell after remaining silent on the results of the first quarter

As the global chip crunch continued, Tesla’s stock price fell after remaining silent on the results of the first quarter



Tesla’s (TSLA.O) share price fell more than 4% on Tuesday because its first-quarter earnings report failed to alleviate investors’ concerns about its noble assessment and the continued increase in global chip shortages and increased competition.

The electric car manufacturer’s quarterly revenue almost exceeded expectations, mainly relying on environmental credit lines sold to other automakers and the liquidation of 1

0% of its $1.5 billion bitcoin investment.

“Tesla’s performance is not bad, but this is not Elon Musk’s slam dunk… I don’t think people will enter Tesla because of Bitcoin,” Eric Schiffer, CEO of Private Equity Ancestry Group (Eric Sch​​hiffer) said the company has a low view of Tesla.

He said: “Investors rejected the stock in a short period of time.” He said that Tesla’s performance has failed to keep up with its “astronomical” valuation.

The company’s chief executive, Musk, did receive $11 billion in option payments based on the company’s goals.

The automaker’s stock closed down 4.5% to $704.74, down more than 20% from its intraday high in January. Last year, their stock price soared by more than 700%, making Tesla the most valuable car manufacturer in the world.

Although the global chip shortage has severely hit competitors in the automotive industry, Tesla delivered a record high in the first quarter. But analysts say that chronic shortages of chips and batteries may threaten its growth prospects.

Nicholas Hyett, a stock analyst at Hargreaves Lansdown, said: “The shortage of computer chips worldwide is expected to limit the production of all manufacturers in the near future, and Tesla will not be exempted.”

“Given the growing importance of its output, it may even be affected even more.”

Regarding the instability of the supply chain, Tesla’s Chief Financial Officer Zachary Kirkhorn said on Monday: “We think this situation is improving, but it is still difficult, and the situation is evolving.”

Roth Capital Partners stated that it maintains a neutral rating on Tesla and said that Tesla’s huge premiums “seems to be based on a false assumption that hundreds of electric vehicles planned to be launched in 25 years will be All failed.”

Tesla said in a report: “Tesla does not operate out of thin air.”

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