Tesla's Stock Plummets: A Rocky Road Ahead
March 22, 2024, 9:37 am
Location: United States, Texas, Austin
Employees: 10001+
Founded date: 2003
Total raised: $3.86B
Location: United States, California, Los Angeles
Employees: 10001+
Founded date: 1999
Tesla, once the shining star of the stock market, is now the biggest loser in the S&P 500, down more than Boeing. The electric carmaker's shares have nosedived over 30%, wiping out a staggering $230 billion in value. Analysts predict a bumpy road ahead for Elon Musk's company as sales slow and competition heats up. The upcoming first-quarter results on April 17 will be a make-or-break moment for Tesla, with Wall Street closely watching for signs of growth. Despite some analysts remaining bullish on Tesla's future, others are skeptical, with some even questioning Musk's leadership. With Tesla's stock still trading at a high multiple of its forward earnings, the pressure is on for the company to turn things around and regain investor confidence.