Tesla Plunges 12% on Lower Sales Warning

Tesla Plunges 12% on Lower Sales Warning Jan. 25, 2024, 4:44 p.m., readers: 38

Tesla (NASDAQ:TSLA) indicated a projection of "notably lower" sales growth in 2024 compared to the previous year, amidst increasing competition and a slowdown in demand from price-sensitive consumers. As a result, the EV giant’s shares plunged more than 12% on Thursday. During a shareholder presentation, Tesla acknowledged it is transitioning from the initial surge in growth fueled by the success of its Models 3 and Y, to a forthcoming phase anticipated to be driven by an upcoming, more affordable, next-generation model. Tesla's fourth-quarter financial results showed an adjusted EPS of $0.71 and revenue of $25.17 billion, both falling short of the Wall Street expectations of $0.73 and $25.61 billion, respectively.

About NASDAQ: TSLA

T esla, Inc. designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. It operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits;

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Market cap: 500.4 billion USD
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P/e ratio: 36.54
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