Tesla shares slide to 15-month low ahead of earnings, as Wall Street frets over price cuts, layoffs
Publishing timestamp: 2024-04-22 16:04:55
Summary
Tesla's stock dropped for the seventh straight day, reaching its lowest price since January 2023. The company cut electric vehicle prices in the U.S., China, and Europe, as well as slashed the price of its premium driver assistance option. Concerns are mounting ahead of the company's first-quarter earnings report, with stock falling 3.4% on Monday. Tesla also issued a voluntary recall on Cybertruck vehicles and initiated layoffs. Analysts are expecting a drop in revenue, and there are concerns about negative free cash flow. Short sellers are profiting from Tesla's stock slide.
Sentiment: NEGATIVE
Keywords: autos, venture capital, earnings, climate, apple inc, business news, tesla inc, technology, electric vehicles,
Source: https://www.cnbc.com/2024/04/22/tesla-shares-fall-to-15-month-low-after-price-cuts-and-layoffs.html