REUTERS: Tesla Inc shares fell more than 8 percent on Thursday after a bigger-than-expected drop in first-quarter deliveries, led by waning demand for its luxury Model S and X vehicles, added to worries about the electric carmaker's finances.
In the quarter, Tesla delivered 50,900 Model 3s, the linchpin of its growth strategy, falling short of analysts' estimates of 58,900, according to IBES data from Refinitiv. Still, there were no new downgrades by brokerages on Tesla shares. The company is currently rated"buy" or higher by 12 of the 30 brokerages covering the company, 7"hold" and 11"sell" or lower.
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