Tesla profits drop 71% on weak sales and anti-Elon Musk sentiment

News Snapshot:

Tesla’s flailing sales figures have put the company closer to the red than it has been in years, according to financial results released Tuesday, threatening one of its biggest advantages over other EV players. The electric automaker reported $409 million in net income on $19.3 billion in revenue after delivering almost 337,000 EVs in the first quarter of the year. The company’s net income reflects a 71% drop from the same quarter last year. It was the worst quarter for Tesla deliveries in more than two years and came on the heels of the company’s first-ever year-to-year drop in sales....