Apr. 2 at 1:57 PM
$TSLA Q1 deliveries came in at 358K, missing expectations again and dropping ~14% QoQ. Not terrible growth YoY, but clearly losing short-term momentum. Inventory build shows supply > demand right now, especially with weaker US sales and tax credit impact.
China holding strong, but market doesn’t care if US demand is slowing.
Feels like a transition phase stock — EV numbers soft while AI/robotaxi narrative grows.
Short term messy, longer term still a story. Bull trap or dip buy?