Tesla Has Traders Wanting More as Profit Beats, Stock Dips
(Bloomberg) - Tesla Inc. posted record earnings in the first quarter, bypassing a shortage of industrial chips, improving its manufacturing and even making money on Bitcoin. Yet the EV maker’s shares fell as much as 3.1% in late trading after the results were announced Monday. This is a sign of the high expectations Tesla is now facing after gaining eight times its stock last year. Among the analysts disputes: Tesla didn't offer a specific estimate for vehicle deliveries in 2021. Chief Executive Officer Elon Musk urges ramping up production and maintaining Tesla's dominance in the electric vehicle market, but competitors are aggressively moving in. Musk said demand on Monday is higher than ever before, but with no further numbers, investors shrugged. "It's all good, but there isn't much news and it wasn't a blowout," said Gene Munster of Loup Ventures. "Everything happened what people thought." Bitcoin Boost The company pulled a new lever on ...