Tesla Rally Pauses After Q1 Deliveries and Production Report
Shares of Tesla (TSLA:US) are trading softer on Monday after the electric vehicle (EV) giant reported production and deliveries figures for the first quarter.
Tesla said it produced 440,808 EV units in the first quarter and delivered 422,875 vehicles. The latter figure, which is more important for investor, came in below the FactSet consensus of 432,000. Surveyed analysts’ predictions ranged between 410,000 and 451,000.
The reported deliveries number also represents around 36% jump year-over-year as Tesla delivered 310,048 cars for the same period last year. It also marks a 4% jump quarter-over-quarter.
Elon Musk’s company produced 19,437 Model S and X vehicles, and 421,371 of its Model 3 and Y vehicles in the first quarter.
“We continued to transition towards a more even regional mix of vehicle builds,” the company said in a statement Sunday.
Tesla is one of the most popular stocks for retail traders and the situation is not much different with Congress and Senate members either. At least 9 transactions involving Tesla shares were reported so far in 2023 by Congress members, according to Capitol Trades data.
Most recently, Rep. Daniel Goldman bought $15,000 - $50,000 worth of Tesla shares on February 03 after he had sold $100,000 - $250,000 of the stock on January 13.
Congress members Ro Khanna, Josh Gottheimer, Shri Thanader, Mike Garcia, and Chris Jacbos were all been trading Tesla shares in recent months.
Tesla shares were trading about 4.5% lower in the opening minutes of Monday’s trading session. Shares are up more than 80% year-to-date.
