Tesla falls 7% as first quarter deliveries show growing inventory buildup and analysts say that more price cuts may be needed

• Tesla stock fell 7% on Monday after the company announced its first quarter vehicle deliveries.
• Tesla delivered 422,900 vehicles last quarter, which was ahead of Wall Street's 421,500 estimate.
• The stock fell as Tesla vehicle inventory surged, suggesting to some analysts that they need to enact more price cuts to spark demand.

Tesla stock fell as much as 7% on Monday after the company's first-quarter deliveries suggested to some Wall Street analysts that more price cuts are needed to spark demand.