2024-04-28 12:37:00 ET
Tesla (NASDAQ: TSLA) just had one of its most disappointing quarterly periods ever. That's not surprising, considering the backdrop of slowing electric-vehicle (EV) sales growth, but it's disappointing, nonetheless.
The stock market is forward-looking, and Tesla shares had already been beaten down based on lower vehicle production and deliveries, compared to the prior-year period. The stock has declined nearly 40% so far in 2024, even after shares rebounded when first-quarter results were announced.
That bounce in the stock was due to investors looking at the future. There will be a more affordable EV offering coming from Tesla.
For further details see:
Is Tesla the Best Electric Vehicle (EV) Stock for You?