Tesla Inc had Wall Street analysts second-guessing their models as the first quarter came to a close. One after another reduced their estimate for vehicle deliveries.
They didn’t cut by nearly enough.
The electric-car maker led by Elon Musk delivered just 386,810 vehicles in the first three months of the year, missing Bloomberg’s average estimate by the biggest margin ever in data going back seven years. Tesla shares plunged as much as 6.7% in intraday trading, extending what’s been the biggest rout in the S&P 500 Index.
