Tesla stock is slumping into the weekend

Tesla’s stock is down 3.3% today. And while, as we’ve mentioned before, the stock doesn’t really need specific reasons to jump up or down, three factors are likely weighing on it ahead of the weekend.

1) Trump tariffs are going to hurt Tesla, too

While Tesla is more sheltered from President Trump’s auto tariffs than other car companies because it domestically manufactures its electric vehicles sold in the US, levies on parts it imports are certainly going to take a toll. Tariffs negatively affect the company’s aim to lower prices and raise margins. Don’t believe us? CEO Elon Musk, Tesla leadership, and the biggest Tesla bull out there, Wedbush Securities analyst Dan Ives, have all said so.

2) Protests are scheduled at Tesla locations around the country Saturday

While it might be tough to put an exact number on how damaging the recent string of Tesla protests have been to the brand’s bottom line, having people picketing out front of hundreds of Tesla locations nationewide this weekend doesn’t seem like it’s going to help. An FBI task force to “crack down on violent Tesla attacks” also doesn’t breed brand confidence. Already, Americans’ impression of the company is at an all-time low, following Musk’s forays into American politics. The vast majority of people are aware of the brand, but don’t want to buy it. And the number of used Teslas listed for sale has jumped 33% this year.

3) It reports Q1 deliveries next week and they’re expected to sting

Tesla is scheduled to report Q1 deliveries before market opening next Wednesday, April 2, and by most accounts vehicle sales are not headed toward Tesla’s promised “return to growth.” A Tesla-compiled list of analyst estimates pegs deliveries at 377,000, down from last year’s 387,000 first-quarter deliveries. Estimates this week from Wedbush and Deutsche Bank are even lower, predicting up to an 11% year-on-year decline.