There are a few reasons why the electric vehicle maker's stock tumbled.
stock fell to its lowest levels since May on Oct. 30, tumbling nearly 5% to below $200 per share. The decline follows a string of losses since Tesla reported disappointing quarterly earnings results on Oct. 18., electric vehicle sales rose nearly 50% in the third quarter, a rate that was far faster than total vehicle sales. As a result, electric vehicles represent about 8% of all vehicles sold in the United States, up from about 6% a year ago.
The growing risk associated with increasing EV competition is one reason why Tesla's shares fell on Monday. Battery supplier Panasonicreported a loss for the first time in three quarters, citing declining demand for batteries used in Model S and Model X. The potential headwinds are weighing on Wall Street analyst's optimism. The consensus full-year earnings per share forecast for 2024 has fallen to $3.75 from $4.17 over the past 90 days.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Hertz is putting the brakes on 100,000 TeslasHertz announced that it was going to order 100,000 electric vehicles from Tesla, but now it is slowing down its plans to electrify its fleet.
Weiterlesen »
Teslas, Chevrolets Among Most Popular Electric Vehicles For Fleet UseThe Tesla Model 3 is America's most popular fleet EV with over 28,000 units sold between July 2022 and July 2023.
Weiterlesen »
Teslas, Chevrolets Among Most Popular Electric Vehicles For Fleet UseThe Tesla Model 3 is America's most popular fleet EV with over 28,000 units sold between July 2022 and July 2023.
Weiterlesen »
Hertz Slows Down EV Plans As Tesla Price Cuts, Repair Costs Affect ProfitsHertz currently has around 50,000 EVs in its fleet, of which 35,000 are Teslas – far below the original target of 100,000 units announced two years ago.
Weiterlesen »
Hertz Slows Down EV Plans As Tesla Price Cuts, Repair Costs Affect ProfitsHertz currently has around 50,000 EVs in its fleet, of which 35,000 are Teslas – far below the original target of 100,000 units announced two years ago.
Weiterlesen »
1 Stock to Buy, 1 Stock to Sell This Week: McDonald’s, AMDStocks Analysis by Investing.com (Jesse Cohen) covering: McDonald’s Corporation, Advanced Micro Devices Inc, Advanced Micro Devices Inc, McDonald’s Corp. Read Investing.com (Jesse Cohen)'s latest article on Investing.com
Weiterlesen »