Tesla's 71% year-over-year profit decline in Q1 has rattled investor confidence, with former bull Ross Gerber calling it the worst performance in over a decade. Gerber posted a cryptic tweet on X linking to "Sweet Little Lies," implying skepticism toward Elon Musk’s projections, and criticized the CEO for focusing on futuristic narratives rather than financial realities. Tesla watcher Gary Black noted improved earnings quality due to minimal reliance on ZEV credit sales. Dan Ives of Wedbush urged Musk earlier on Tuesday to resign from his government duties and recommit to Tesla leadership. Musk assured investors during the earnings call that he would reduce his DOGE responsibilities starting in May.
