Tesla is about to enter yet another critical moment. The carmaker will report first-quarter earnings next week, and after two consecutive quarters of profits, analysts expect a loss — and they’ve been guided toward that prediction by CEO Elon Musk himself.
Tesla shares have slid 12% year-to-date, and at about $270, they’re far, far away from the now-notorious $420 price that Musk proposed to take the company private last year. Tesla also didn’t climb above $350 a share this year before it had to cover a convertible bond payout, so the carmaker took care of the bill with over $900 million in precious cash.
That just the tip of the troubling iceberg, too. Tesla reported lower-than-expected vehicle sales for Q1 (although 10,000 cars were in transit to owners and weren’t counted in the total), disappointing investors who had seen almost 250,000 vehicles delivered in 2018.
I won’t go on, but the bad news has invigorated Tesla bears — both professional investors such as hedge-fund manager David Einhorn, who has been short Tesla for years, and the ad-hoc “#TSLAQ” community that congregates on Twitter, widely discussing Tesla’s impending