Tesla Stock Is Falling After Earnings Beat On Capital Spending Plans, Elon Musk Comments

Tesla (TSLA) topped first-quarter earnings estimates Wednesday night, but CEO Elon Musk warned of massive capital spending coming, while also stressing constraints on his company’s big ambitions for robotaxis and robots. Tesla stock fell before Thursday’s open after initially jumping on the quarterly results. “You should expect to see a very significant increase in capital expenditure,” Musk cautioned on the…