This segment originally aired on April 29, 2023.
Tesla (TSLA) shares plummeted on Thursday after reporting a first quarter earnings miss. The EV maker reported gross margins of 19.3%, falling short of Wall Street’s expectations. Nancy Tengler, Laffer Tengler Investments CEO and Chief Investment Officer, joined Yahoo Finance’s Seana Smith and Dave Briggs to discuss whether now is the time to buy Tesla stock. “I’m going to be buying after this report,” Tengler said. “We bought some on January 3rd or 4th. It was just dumb luck. We pretty much almost bottom ticked it.” The disappointing earnings report caused a flurry of price target cuts from analysts. Investors have started to question Musk’s focus at Tesla as the CEO has become increasingly embroiled in drama at Twitter. But Tengler is bullish on Musk. “I think Elon Musk is so often underestimated.” You can watch the full interview here.
Key video moments:
00:00:14 On buying Tesla 00:00:27 On Tesla’s management team 00:00:38 On underestimating Musk 00:00:48 On Tesla’s margins
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