Tesla, Inc.'s Model Y Juniper refresh is driving some sales gains, but global Tesla sales remain under pressure, especially in Europe and China. Tesla's investment case now hinges more on the upcoming robotaxi launch and FSD progress than on immediate vehicle sales numbers. Multiple upcoming catalysts—robotaxi, Model Q, energy expansion, and Optimus—could reignite positive sentiment and drive the stock higher.
Rising jobless claims and a sharp decline in imports raised the specter of slowing economic growth.
"The quickly deteriorating friendship and now ‘major beef' between Musk and Trump is jaw dropping and a shock to the market, putting major fear for Tesla investors on what is ahead," Wedbush analyst Dan Ives explained in a note to clients.
Tesla's (TSLA) massive slide to the downside pulled the SPX down with it. However, as Kevin Green points out, a bounce off the lows kept the worst possible technical scenario off the table.
$17.2 billion. That's how much was cut from Musk's fortune amid Tesla's stock slide, bringing his net worth below $400 billion to $398 billion, according to Forbes' estimates.
$17.2 billion. That's how much was cut from Musk's fortune amid Tesla's stock slide, bringing his net worth below $400 billion to $398 billion, according to Forbes' estimates.
President Donald Trump lashed out on Thursday against Elon Musk, saying he was "disappointed" by the billionaire's public opposition to the sweeping tax-cut and spending bill that is at the heart of Trump's agenda.
$17.2 billion. That's how much was cut from Musk's fortune amid Tesla's stock slide, bringing his net worth below $400 billion to $398 billion, according to Forbes' estimates.
$17.2 billion. That's how much was cut from Musk's fortune amid Tesla's stock slide, bringing his net worth below $400 billion to $398 billion, according to Forbes' estimates.
Tesla Inc.'s stock was on the verge of a technical breakthrough last week, with investors brimming with hope that a return of Chief Executive Elon Musk to headquarters and promises that he'd stay for years to come would benefit the shares.
Shares of Tesla Inc (NASDAQ:TSLA) tumbled nearly 8.6% on Thursday afternoon, wiping out about $82 billion in market value, as investors reacted to a mix of political turmoil surrounding CEO Elon Musk and signs of deteriorating international sales. The sharp drop extends a slide that began after hours on Wednesday, when the stock fell 3.55% following Musk's outspoken criticism of a Republican-led spending bill.
The stock has been on a roller-coaster ever since his endorsement of Trump in mid-July.