January 25, 2023

Why Tesla Stock Is Down In Premarket Today Ahead Of Q4 Results

Tesla Inc. TSLA shares are sliding in premarket trading on Wednesday.

What Happened: On Tuesday, the electric vehicle maker’s stock was about 1.85% lower at one point during the day’s session. But it made good the loss and closed up 0.10%, at $143.98.

In premarket trading on Wednesday, the stock fell 1.22% to $142.20.

See Also: How Did Elon Musk Make His Money

Tesla is due to release its fourth-quarter results on Wednesday after the market close. Analysts, on average, estimate fourth-quarter earnings of $1.13 per share on revenue of $24.03 billion.

With uncertainty clouding earnings and the future trajectory, traders are likely to stay on the sidelines for want of clarity.

The margin impact of the fourth-quarter price cuts and CEO Elon Musk’s commentary on the earnings call could be keenly watched by Tesla investors.

Separately, ahead of the results, JPMorgan lowered its price target for Tesla stock from $125 to $120.

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