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Tesla (TSLA) broke out as one of the hottest stocks on Wall Street after CEO Elon Musk helped to bankroll president-elect Donald Trump’s November election victory, but the shares are falling sharply today as investors once again consider the company’s fundamentals.Â
In its newly released fourth-quarter data, TSLA reported total deliveries of 495,570, with the 2024 tally of 1.789 million marking the electric vehicle (EV) giant’s first annual decline - down from 1.81 million in 2023. Total production reached 459,445 for Q4, and 1.773 million for 2024.Â
The results missed expectations, as analysts were looking for higher Q4 deliveries of about 505,000, on average. In the year-ago quarter, Tesla achieved deliveries of 484,507. Model 3 and Y deliveries accounted for 471,930 of the Q4 total, falling short of Wall Street’s 481,306 estimate. Looking ahead, Tesla is slated to report its quarterly earnings later this month, on Jan. 22.
TSLA stock is down more than 4% to start the first session of 2025, and on pace for a second consecutive daily close below its 20-day moving average. The volatile mega-cap stock is now down more than 20% from its Dec. 18 high around $488. TSLA, which is trading down for the fifth session in a row, could also close below $400 for the first time since Dec. 9.
Options traders are betting on more volatility through the end of this week, with new positions being added at a number of strikes in the weekly Jan. 3 options series. In early trading, volume is exceeding open interest at the TSLA 390, 400, and 410 calls, to name a few, while put players are adding new contracts at the out-of-the-money 380 strike.
This article was generated with the support of AI and reviewed by an editor. On the date of publication, the editor did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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