Put the Tesla Pedal to the Metal With These ETFs

First-quarter earnings season is accelerating and the automotive euphemism is a good segue into noting that Tesla, Inc. (TSLA) reports results for the first three months of 2026 on Wednesday, April 2022. Tesla said it will release the report after U.S. markets close.

Tesla earnings are usually widely followed due in part to Elon Musk’s status as a high visibility CEO. Also the fact that Tesla is the most valuable automotive company in the world by a wide margin. The company’s earnings updates are also the ideal times for risk-tolerant traders to consider ETFs such as the Direxion Daily TSLA Bull 2X Shares (TSLL) and the Direxion Daily TSLA Bear 1X Shares (TSLS).

TSLL attempts to deliver 200% of the daily performance of Tesla shares. Meanwhile, the bearish TSLS functions as an inverse, non-leveraged ETF. Said another way, if Tesla stock declines by 1% on a given day, TSLS should rise by 1%.

What Could Move TSLL, TSLS

For traders considering the Direxion ETFs as plays on Tesla earnings, the good news is that they have a few days to get their ducks in a row. This means studying some of the issues that could move the stock and these funds following the report. Specifically, the robotaxi commentary should be studied as well.

“We will be looking for an update on the Robotaxi. In its fourth-quarter earnings shareholder deck, Tesla noted it plans to expand the Robotaxi to seven new cities in the first half of 2026, meaning service will be tested in nine total US cities,” said Morningstar analyst, Seth Goldstein. “As Tesla has not yet begun offering Robotaxi rides in its new testing grounds, we hope to hear an update on the network’s progress, as well as updated timelines for new city launches and the removal of safety drivers.”

Goldstein also noted that commentary first-quarter energy storage deployment, which may disappoint, is another topic worth monitoring.

The Space X Factor

Another non-earnings factor that could affect TSLL and TSLS is the upcoming SpaceX initial public offering (IPO). Due to regulatory restrictions, Musk and team probably won’t mention that topic on the Tesla earnings call. However, it’s an issue Tesla will likely address at some point over the near-term.

“Tesla is unlikely to discuss SpaceX much on the call, although it has an ownership stake in the firm, the two are partners on the Terafab, and its Optimus humanoid robots are likely key to SpaceX’s long-term growth. We will look out for any details on the IPO, such as whether shares will be allocated for Tesla shareholders to purchase, or if Tesla CEO Elon Musk sees Tesla and SpaceX working more closely together in the future,” Goldstein added.

While only experienced traders should use leveraged products, Direxion does have a dedicated education center for those interested in learning more about these funds.

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