Tesla Inc. shares edged lower in morning trading Tuesday, dipping 0.42% to $390.86 as Wall Street positioned for the electric vehicle maker's first-quarter earnings report due after the bell on Wednesday, with focus squarely on robotaxi progress, capital spending plans and the outlook for autonomy amid slowing vehicle delivery growth.
At 9:41 a.m. EDT, Tesla stock was down $1.64 from the previous close, reflecting cautious sentiment ahead of what analysts describe as a pivotal update from CEO Elon Musk. The stock had closed Monday at $392.50, down more than 2% on the day after touching an intraday high above $406. Monday's decline extended a volatile stretch in which Tesla shares have traded in a wide range, recently rebounding from early April lows near $357 but remaining down roughly 11% to 20% year-to-date depending on exact measurement points.
