Tesla shares plummet
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Tesla braces for rough quarters ahead
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Tesla's share price closed Thursday's session following the announcement of its June quarter results 8.20% lower at $305.30. Following the sharp selloff yesterday, Tesla's market capitalisation also declined $984.
Tesla's shares declined 1.74% for week, two days after posting lower profits for a third straight quarter amid increased competition and loss of tax credits.
In 2020, Tesla controlled nearly 80% of the U.S. market, based on data from Experian. By 2022, that was down to 65.4%, followed by 55% in 2023. This year, per Cox Automotive, that share continues to decline, hovering around 45% as of July 11.
ET with analyst reactions Shares of Tesla (NASDAQ:TSLA) are straddling the flatline in postmarket trading as the company’s second quarter results were not as bad as Wall Street expected and avoided a second consecutive top- and bottom-line miss with profits in-line with expectations.
Let's be honest: if any car company operating in America could produce a truly compelling, high-spec electric vehicle for well under $30,000, it's Tesla.
Tesla just flipped the switch on something wildly different. In the heart of West Hollywood, Elon Musk’s long-teased vision has finally come to life: a retro-futuristic diner where you can charge your EV,
Elon Musk warned of difficult times ahead for Tesla Inc. after one of the automaker’s worst quarters in over a decade.
Tesla may be the face of electric vehicles, but Chinese brands are offering decent looks, solid performance, and impressive range at budget prices.