Tesla Stock Plunges 3.61% Amid Delivery Disappointment

On April 3, 2025, Tesla's stock dropped by 3.61% in pre-market trading, reflecting a challenging period for the electric vehicle giant.

Elon Musk, the CEO of Tesla, faced a tumultuous 24 hours. Despite significant financial backing for conservative candidates, his supported candidates failed to win the Wisconsin Supreme Court election. Additionally, Tesla's first-quarter delivery figures fell short of expectations, with 336,681 vehicles delivered, a 13% decrease from the previous year. This underperformance has contributed to a roughly 30% decline in Tesla's stock value for the year.

Analysts, including Dan Ives from Wedbush Securities, described the delivery numbers as a "disaster," highlighting the significant gap between actual and expected figures. The disappointing results have raised concerns about Tesla's future prospects and the impact of Musk's political involvement on the company's performance.

Despite the setbacks, there was a brief respite when reports suggested that Musk might be leaving his role in the government efficiency department. However, this was quickly dismissed by both the White House and Musk himself, who labeled the report as fake news. The ongoing political controversies and delivery challenges continue to weigh on Tesla's stock performance.