Tesla shares close down 12% after earnings miss for biggest slump since 2020
Publishing timestamp: 2024-07-24 08:26:41
Summary
Tesla shares dropped after reporting weaker-than-expected quarterly earnings and a decline in automotive revenue. The company's core automotive business is facing pressure from competition, especially in China. CEO Elon Musk mentioned plans for a new "affordable" car and robotaxi service, but investors remain concerned about the company's performance.
Sentiment: NEGATIVE
Tickers: TSLA,
Keywords: electric vehicles, technology, business news, markets, s&p 500 index, earnings, breaking news: markets, autos, united states, tesla inc, elon musk, transportation, climate,