Tesla reported first quarter earnings last week. The results missed both, earnings and revenue expectations. Tesla lost $702 million or $4.10 in earnings compared to $494 million, or $2.90 a share, compared with a loss of $3.35 a share a year ago.
Tesla Inc’s stock price fell
5% on Friday and fell 14% for the week to its lowest since January 2017.
Daniel Ives of Wedbush cut his rating on Tesla TSLA to neutral from outperform, the equivalent of buy, in a scorching note that reflected equal amounts of frustration and despair.“In our 20 years of covering tech stocks on the Street we
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