On April 2, Tesla (TSLA.O) unveiled its most lackluster quarterly sales figures in recent memory, failing to meet Wall Street's projections and encountering hurdles in its pivotal business transformation. The electric vehicle (EV) giant reported on Thursday that its global vehicle deliveries for the first quarter amounted to 358,023 units, falling short of the median analyst forecast of 372,160 vehicles. This figure has seen a steady downward revision in recent weeks, marking Tesla's second consecutive quarter of underperformance against expectations.

While numerous investors are inclined to turn a blind eye to Tesla's sales trajectory, considering Elon Musk's ambitious focus on futuristic ventures such as artificial intelligence (AI), autonomous driving, and robotics, it's crucial to note that the traditional automotive sector remains Tesla's primary revenue generator.

Following the announcement of the delivery data, Tesla's stock price took a hit in pre-market trading, plummeting by 4%. As of Wednesday's market close, the stock has witnessed a 15% decline since the beginning of the year and is down 22% from its record high achieved in December of the previous year.