Reported 5 months ago
Tesla's stock has plummeted nearly 25% this year, losing over $195 billion in market value, as the company faces challenges beyond its struggles in China. New data indicates that Tesla's sales in Europe have declined, contrasting with a 14% rise in overall EV registrations, suggesting company-specific issues are hindering sales. The company has also faced setbacks in China, with sales falling by 18% in April, prompting layoffs and production disruptions. Despite the challenges, Tesla's supporter, Morgan Stanley's Adam Jonas, remains bullish on the stock, emphasizing Elon Musk's reliance on Tesla for his AI-related ambitions. However, not all shareholders agree with Musk's $55.8 billion pay package, with concerns raised about its excessiveness. Tesla's shares were down 2.8% in early Wednesday trading, remaining 27% lower for the year.
Source: YAHOO