TSLA is trading at $375.79 (-3.02%) in pre-market as high CapEx guidance and geopolitical instability in the Strait of Hormuz weigh on investor sentiment following its Q1 earnings report.
- While Q1 margins beat at 19.2% and EPS hit $0.41, an initial rally faded due to concerns over rising inventory and $20B+ in projected capital expenditures.
- The decline coincides with broader market weakness as oil prices surge past $102/bbl following Iranian ship seizures, pressuring both the S&P 500 and Nasdaq.