Live Updates on Sales, Profit Results, Analyst Call

• Tesla releases its first quarter results on Tuesday.
• The electric vehicle maker has been under pressure after a reported discontinuation of a low-cost vehicle model.
• The company’s stock is down more than 40% in 2024.

Tesla will report its first quarter results on Tuesday after the closing bell.

The electric vehicle maker has been under pressure heading into 2024 as it was announced it would abandon plans to produce a low-cost Model 2 and instead focus on autonomous driving and robo-taxis. Wall Street didn’t like the idea, which pushed Tesla’s stock, already struggling, lower.

The company has also faced falling demand for its electric vehicles, leading to a series of price cuts, the latest of which came on Monday.

Tesla shares was down 43% year to date through Monday’s close, far behind the S&P500That’s a gain of 5%.