Tesla (TSLA.US) shares led the declines in the Mag7 group during today’s session after Elon Musk’s company reported worse-than-expected car delivery data, with the stock falling as much as 6.5%.
Tesla Q1 deliveries 336,681 (est. 390,343)
- Production 362,615 vehicles (est. 412,148)
- Model 3/Y production 345,454 (est. 400,777)
- Model 3/Y deliveries 323,800 (est. 381,536)
- Other model production 17,161 (est. 17,630)
- Other model deliveries 12,881 (est. 16,335)
However, these moves have since been completely erased, and even reversed, after Donald Trump announced that Musk would be stepping down from his government position in the coming weeks. Investors are optimistic about this information, as the billionaire has recently been accused of focusing too much on his duties at DOGE and not on actually managing his businesses.
Source: xStation
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