Tesla shares drop 10% after company warns of slowdown in 2024
Publishing timestamp: 2024-01-25 10:43:39
Summary
Tesla shares fell after the company reported earnings that missed expectations and warned of a slowdown in 2024. The company's vehicle volume growth for 2024 is expected to be lower than the previous year. Various brokers also reduced their price targets for Tesla, adding further pressure on the stock. Tesla's revenue and earnings for the fourth quarter of 2023 were below market expectations. The company has been cutting prices in key markets and facing competition from Chinese players and traditional automakers. Overall, the outlook for Tesla is seen as uncertain and there are downside risks for the stock.
Sentiment: NEGATIVE
Keywords: markets, tesla inc, earnings, transportation, electric vehicles, byd co ltd, business news, autos, technology, pre-markets,