TSLA - Why Tesla Stock Skidded to an 8% Loss on Wednesday
2024-07-11 18:51:00 ET
Has there been any high-profile stock more volatile than Tesla (NASDAQ: TSLA) lately?
Following a burst of investor optimism on the back of the company's latest delivery figures, the bears took over on Wednesday. A disquieting media report was responsible for the rapid mood change; this drove Tesla's share price down by more than 8% across the Hump Day trading session.
Before market open, Bloomberg published an article stating that Tesla will postpone the unveiling of its highly anticipated robotaxi. Citing unnamed "people familiar with the decision," this is being done so the robotaxi team can rework certain elements of the vehicle and build more prototypes.
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Why Tesla Stock Skidded to an 8% Loss on Wednesday