Tesla Stock Plunges 30% in 2024 Amid Falling Delivery Forecasts and Profit Concerns

Tesla stock has plunged over 30% in 2024 as vehicle delivery and profit forecasts decline. Q1 earnings on April 23 expected to show further weakness.

Wall Street has slashed 2024 profit forecasts by nearly 30% since end of 2023 amid projected delivery and demand slowdown.

Tesla deliveries underwhelmed in Q1 and EV demand showing signs of weakening in key China market. Unclear if scrapped $25k model reflects strategy shift.

Despite recent pullback, valuation not necessarily cheap with 2024 EPS consensus now below $3. Regulatory scrutiny also a headwind.

With slippery outlook and ongoing distractions, Tesla not a buy right now though mammoth runs still possible given past performance.