Tesla shares drop after muted first-quarter results as a global chip crunch persists

Published by
Reuters

(Reuters) – Shares of Tesla Inc fell more than 4% on Tuesday as its first-quarter earnings results failed to alleviate investor concerns about its lofty evaluation, as well as a prolonged global chip shortage and rising competition. The electric car maker’s quarterly revenue made it barely past estimates, relying mostly on sales of environmental credits sold to other automakers and the liquidation of 10% of its $1.5 billion bitcoin investment. (Graphic of Tesla profits) https://tmsnrt.rs/2Pp7vEo “Tesla’s performance was OK but it wasn’t a Elon Musk slam dunk…I don’t think people are into Tes…

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