Tesla Inc (NASDAQ:TSLA) shares are trading lower Tuesday, continuing a multi-day slide that has seen shares fall approximately 9% over the last week. Here’s a look at what’s going on.
What To Know: Tesla shares are falling again Tuesday after trading down 5.59% on Monday following reports the EV maker was planning to lay off more than 10% of its workforce.
The selling pressure on Tesla shares was intensified by news that two key Tesla execs, Drew Baglino and Rohan Patel, would be leaving the company.
“About every 5 years, we need to reorganize and streamline the company for the next phase of growth,” CEO Elon Musk said in a post on X.
The continued weakness in Tesla shares on Tuesday comes as GLJ Research analyst Gordon Johnson maintained Tesla with a Sell rating and lowered the ...