Tesla Stock Falls
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Tesla is facing stiffer competition globally from electric vehicle players, especially low-cost competitors from China.
Tesla is facing a rough path ahead and will likely struggle unless Elon Musk fixes his public image, longtime investor Ross Gerber says.
Tesla (NASDAQ: TSLA) closed down 8.2% at $305.30 on Thursday, retreating sharply after CEO Elon Musk's cautionary earnings commentary about "rough quarters ahead" amid macroeconomic and electric vehicle (EV) demand uncertainties.
Tesla stock falls more than 6% pre-market after Q2 earnings call. Sales decline, EV incentives end, and new Model Y trim disappoints.
The company reported the steepest decline in quarterly revenue in more than a decade, with a 12% fall, as it battles strong competition from cheaper electric vehicles and a backlash against CEO Elon Musk’s political views.
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