After an extensive rally that has seen Tesla (NASDAQ: TSLA) stock erase all the year-to-date losses and finally trade in the green in 2024, the unexpected and sudden hiccup in the Robotaxi unveiling event caused an 8.44% drop in a single trading session, with losses of 1.55% extending in the pre-market on July 12.
After Tesla (NASDAQ: TSLA ) reported better-than-feared second-quarter delivery figures, investors saw a 15% surge in Tesla stock. Despite beating forecasts with 443,956 vehicle deliveries, a 4.8% decline from last year suggests ongoing sales challenges.
Here's everything you need to know about the electric vehicle maker's week.
The EV maker has been on an impressive run in July but the shares might have got ahead of themselves, according to UBS analysts.
The S&P 500 and Nasdaq Composite retreated from record highs as investors pivoted away from Big Tech, like Nvidia and Meta Platforms.
Tesla on Thursday launched a new rear-wheel drive variant of its Model 3 long-range vehicle, at a price $5,000 lower than the all-wheel drive version, according to the electric vehicle maker's website.
One major project from the carmaker is apparently being pushed back several months. According to a media report, the robotaxi won't be introduced to the world in August as planned.
After a midsummer streak of record closing highs that lasted for more than a week, the S&P 500 and Nasdaq Composite retreated on Thursday, pressured by underperformance from the tech sector.
Tesla (TSLA) shares slumped in intraday trading Thursday on indications the unveiling of the electric vehicle (EV) maker's much-awaited self-driving robotaxi has been delayed by two months.
Elon Musk's estimated net worth fell about $11 billion Thursday after Tesla's share price dipped for the first time in over two weeks, with a sharp drop coming after a Bloomberg report was published saying the automaker decided to delay the launch of its robotaxi service.
After going on a stratospheric run following better-than-expected second-quarter deliveries, electric vehicle (EV) manufacturer Tesla (NASDAQ: TSLA ) saw its win streak snapped. On Thursday, TSLA stock suffered a big decline as reports indicated that the underlying enterprise may delay a much-anticipated autonomous vehicle design.
Tesla has delayed its Robotaxi launch from August to October, as per people familiar with the decision making process for the event. Shares are tumbling during trading.