Tesla's stock price has shrunk by nearly 70% from its peak in November 2021.


[Compilation of Wei Guojin/Taipei Report] 2022, which is coming to an end, may be an unprecedentedly bad year for Tesla's stock price.

The Wall Street Journal reported that Tesla's market value has shrunk by about 70% from its peak in November 2021, and Tesla's share price has fallen faster than the broader market and other rivals.

Deepening global economic uncertainty and a growing choice of electric car brands for consumers have Wall Street worried that Tesla may have to sacrifice profitability to maintain growth.

Tesla's stock price tumbled as investors dissatisfied with founder Musk's ownership of Twitter, demand for Tesla's electric vehicles slumped and the broader market fell in an environment of rising interest rates, the report said. Stock performance worst on record.

Please read on...

The plunge in Tesla shares marks a sharp reversal for the world's most valuable automaker.

Tesla was one of the biggest winners in the auto industry in the early 2020s, which was plagued by chip shortages, global supply chain disruptions, and shutdowns related to the Wuhan pneumonia (COVID-19).

Tesla entered 2022 strongly with better-than-expected performance and strong car pricing strength.

Tesla's decades-long streak of profitable quarters has allowed the once-cash-strapped company to build up a cushion of about $20 billion, rivaling that of some of the biggest automakers.

Wall Street, however, cut its growth forecast for this year after Tesla extended an outbreak-related shutdown at its Shanghai assembly plant this spring, the report said.

The Shanghai plant is Tesla's largest assembly plant in the world.

Furthermore, rising interest rates and uncertainties in the global economy have raised concerns about lower demand for new cars.

Earlier this year, consumers who ordered Tesla electric vehicles had to wait months for delivery, which is no longer the case.

Tesla Chief Financial Officer Zach Kirkhorn cut his full-year growth forecast in October, when he said Tesla did not expect to meet its original plan to increase deliveries by 50 percent in 2022.

In 2021, Tesla will deliver 936,000 vehicles, and if it is to meet the standard this year, it must deliver more than 1.4 million vehicles.

Grasp the pulse of the economy with one hand I subscribe to Free Finance Youtube channel

Already added friends, thank you

Welcome to 【Free Finance】

feel good

Already liked it, thank you.

related news