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Tesla thud on Wall Street, closes down 12%

2023-01-03T21:46:47.498Z


The biggest decline in one session for over two years (ANSA) Tesla closed lower on Wall Street as shares fell 12% in what is the biggest drop in a single session in more than two years. 2023 opens uphill for Tesla. The electric car giant suffers sharp declines following investor fears about the stability of demand. Tesla discounts the weight of deliveries below expectations in the last three months of the year. Shares of Elon Musk's behemoth fell 54% in th


Tesla closed lower on Wall Street as shares fell 12% in what is the biggest drop in a single session in more than two years.

2023 opens uphill for Tesla.

The electric car giant suffers sharp declines following investor fears about the stability of demand.

Tesla discounts the weight of deliveries below expectations in the last three months of the year.



Shares of Elon Musk's behemoth fell 54% in the final quarter of 2022 as investors worried about the Twitter takeover.

And the downward trend continues into the new year.

Musk "must navigate society through this Category 5 hurricane instead of focusing on Twitter, which remains a distraction," some analysts say.

Since Musk bought the twittering company, funding the deal in part with the sale of Tesla stock, the electric-car giant has exacerbated losses on Wall Street, where it was already feeling fierce competition and struggling supply chains. .



The last cold shower in chronological order came from the data on deliveries in the last three months of the year.

Although 11% higher than the record of the previous three months, they disappointed expectations, reaching only 405,278 cars against the 420,000-430,000 expectations.

A disappointment that caused the shares to lose almost 15% confirming the weakness of the demand. 

Source: ansa

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