Tesla Q1 Sales Fall, TSLA Stock Still Up While S&P 500, Nasdaq Fall
Tesla stock continues to display strength, making some massive gains today, despite a 13% decline in EV deliveries during Q1.
Tesla Defies Market Weakness with Strong Stock Performance
In recent weeks, Tesla’s stock has demonstrated remarkable resilience, significantly outperforming the broader tech sector. While many tech stocks struggled last week, Tesla managed to gain around 6%, signaling strong investor confidence.
This momentum carried into this week, with TSLA shares surging 13.5%—starting at $249 on Monday and closing at $280 today. Meanwhile, the Nasdaq gained 0.5%, marking its third consecutive positive trading session.
Technical Strength & Overcoming Key Resistance Levels
Despite plunging 50% since mid-December, Tesla has established a strong support zone around $220, reinforced by key moving averages on the weekly chart. However, the 50-week Simple Moving Average (SMA) has acted as a tough resistance level, limiting upward movements.
Today, Tesla’s stock broke above this critical moving average, even as the company reported a 13% drop in Q1 EV deliveries—its worst quarterly performance in nearly three years.
Q1 Deliveries Fall Short but New Model Y Sparks Optimism
Tesla delivered 336,681 electrical vehicles in Q1, falling short of Bloomberg’s forecast of 390,342 units. While the disappointing delivery numbers raised concerns, some analysts see a silver lining in the updated Model Y, which launched globally in March and could drive demand.
Tesla officials addressed the lower production numbers, stating:
“The ramp of the New Model Y continues to go well, even though we lost several weeks of production in Q1 due to the switchover of Model Y lines across all four of our factories.”
Despite the temporary slowdown, Tesla produced 362,615 vehicles in Q1, hinting at a potential recovery.
Upcoming Earnings Report in Focus
Looking ahead, investors are eagerly awaiting Tesla’s Q1 financial results, which are set to be released on Tuesday, April 22. The earnings report could provide further insights into the company’s outlook and whether the new Model Y and upcoming product launches can sustain its recent stock rally.
While Tesla’s Q1 delivery numbers were weaker than expected, investors remain bullish, pushing the stock above key technical levels. If earnings results impress, Tesla’s uptrend could continue, but the broader EV market challenges and production concerns remain key risks to watch.
European stock markets closed mostly lower but showed some recovery from their session lows. Geopolitical tensions, economic concerns, and upcoming central bank decisions remain key factors influencing investor sentiment.
European Markets End Lower, Recovering from Session Lows
Major European indices closed mostly in the red, though they managed to recover from deeper intraday losses.
German DAX fell -164.90 points (-0.73%) to 22,375.09, after being down -400.72 points at session lows.
France’s CAC 40 dropped -17.53 points (-0.22%) to 7,858.84, recovering from a steeper loss of -83.39 points earlier.
UK’s FTSE 100 declined -26.32 points (-0.30%) to 8,608.49, after touching a session low of -86.49 points.
Spain’s Ibex 35 was the only major index to close higher, gaining +53.19 points (+0.40%) to 13,350.20, despite being down -61.71 points at session lows.
Italy’s FTSE MIB lost -103.18 points (-0.27%) to 38,454.19, having dropped as much as -514.59 points earlier.
German Index Dax Live Chart
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