Tesla's share price has dropped more than 25% this year due to shrinking car sales, setbacks in autonomous driving, and increased competition. Critics blame the lack of a new affordable model and a slowdown in the overall EV market. Proponents believe Tesla's innovation and upcoming EV models can help it regain its previous growth.
The company's share price has plummeted more than 25% so far this year, making it one of the worst-performing stocks in the S&P 500. Over the same period, that index has risen about 10%.
"Tesla has been here before but this is a code red," Dan Ives, a managing director of equity research at the investment firm Wedbush, a longtime Tesla bull, told ABC News.Last week, Tesla reported a significant decline in car sales over the first three months of 2024.
"Tesla had cars available when the auto industry writ large globally did not," Johnson told ABC News.
Tesla Share Price Plummet Car Sales Setbacks Autonomous Driving Competition Market Value Affordable Model EV Market Innovation Growth
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