Why Investors Are Selling Tesla Ahead of Today's Earnings
While Tesla (NASDAQ: TSLA) CEO Elon Musk has been making headlines for other reasons in recent days, the focus for investors turns back to his electric car company this afternoon. Tesla is set to report first-quarter earnings after the bell today, and investors seem pessimistic about what they'll hear. Shares of the electric vehicle (EV) leader were trading down 4.2% as of 2:23 p.m. ET today.
There have certainly been some positive highlights for the company so far this year. But Tesla investors seem to be concerned about what the impacts to production will be from COVID-19-related lockdowns in Shanghai. Tesla opened the Shanghai plant -- its second production facility -- in 2018, and it has been a large contributor to the company's explosive growth.
Image source: Tesla.
Source Fool.com
