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Tesla shares drop on lack of clear forecast amid global chip crunch

Tesla shares drop on lack of clear forecast amid global chip crunch 04/27/2021 16:13 (Reuters) - Shares of Tesla Inc fell about 4% on Tuesday as investors were concerned about its main revenue drivers and the impact of a global chip crunch on its operations as it ramps up production. The electric-car maker s quarterly revenue made it barely past estimates, relying mostly on sales of environmental credits and the liquidation of 10% of its $1.5 billion bitcoin investment. A global shortage of computer chips is expected to limit production from all manufacturers in the immediate future, and Tesla won t be exempt, said Nicholas Hyett, equity analyst at Hargreaves Lansdown.

Tesla shares: Tesla shares drop on lack of clear forecast amid global chip crunch

Shares of Tesla Inc fell about 4% on Tuesday as investors were concerned about its main revenue drivers and the impact of a global chip crunch on its operations as it ramps up production. The electric-car maker s quarterly revenue made it barely past estimates, relying mostly on sales of environmental credits and the liquidation of 10% of its $1.5 billion bitcoin investment. A global shortage of computer chips is expected to limit production from all manufacturers in the immediate future, and Tesla won t be exempt, said Nicholas Hyett, equity analyst at Hargreaves Lansdown. Given the ongoing importance of its production ramp up, it may even be more heavily impacted.

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