Tesla (NASDAQ: TSLA) reported dismal financial results in the first quarter. Every metric of consequence -- deliveries, revenue, operating margin, and earnings -- declined as the company lost market share across China,

Tesla's first-quarter earnings report itself was a disaster, but Musk gave investors some much-needed good news on the conference call.

Tesla’s (TSLA) profit dropped 71 percent in the first quarter, marking yet another hurdle for the company as criticism of Elon Musk intensifies. Michele Schneider, chief strategist at MarketGauge, joined TheStreet to discuss the major challenges ahead for the company.