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Tesla Shares Fall Amid Delays, Distractions and Fading EV Dominance
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6 Articles
NEW YORK — Tesla shares fell Thursday after CEO Elon Musk said the company could face "some tough quarters" as it transitions to a future less focused on selling cars and more on offering rides in self-driving cars.
Tesla Shares Drop on Earnings
Tesla (NASDAQ: TSLA) shares tumbled more than 9% Thursday morning after the EV giant reported a slight earnings and revenue miss for the second quarter and issued a cautious outlook. CEO Elon Musk warned investors of potentially “a few rough quarters” amid a shifting regulatory landscape and declining credit revenue. Tesla reported Q2 revenue of $22.50 billion, just below Bloomberg’s consensus estimate of $22.64 billion, and down 12% from $25.05…
Tesla shares fall amid delays, distractions and fading EV dominance
Tesla’s shares sank nearly seven per cent in premarket trading on Thursday as the EV giant grapples with sinking sales and mounting doubts over its future under CEO Elon Musk, deepening investor anxiety after another shaky quarter.
The U.S. electric car manufacturer Tesla's shares lived at their biggest daily decline in seven weeks, after vehicle sales fell by the second quarter and fell below analysts' expectations.Tesla lost 8.2% to operate at $305.30 per share, which became its biggest daily loss since June 5, when it went back 14.3 percent.With Thursday's fall, the automobile lost 87.803 million dollars in market value and fell below the trillion dollar level.
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