The value of Tesla's stock has plummeted in the first three months of 2024. In fact, it has fallen by a third in the first quarter.
It is with stocks as with life in general. It goes up and it goes down. In the first quarter of 2024, which we have just come out of, however, it has gone down the most.
At least for Tesla. The American electric car brand's stock has lost almost a third of its value in that period.
CNBC writes that.
The significant fall in shares is due, among other things, to the fact that Tesla has not been able to live up to investors' expectations on a number of crucial points. Among other things, the number of delivered cars is lagging behind.
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Analysts expected that Tesla could deliver more than the 8 percent increase the brand seems to be able to present in connection with the publication of the quarterly accounts.
In addition, aggressive Chinese pricing of competing cars is squeezing Tesla's earnings. In fact, the 29 percent drop in Tesla stock is the worst drop since late 2022.
Speaking of Tesla's growth, the brand managed to deliver 457,000 cars in the first three months of 2024. And while that's an 8 percent increase, that's still significantly fewer cars than the 36 percent more deliveries Tesla was predicted to churn out stranger.
This is mainly due to Tesla going back significantly in the brand's two most important markets, namely in the USA and China, where the car brand's sales are expected to shrink by 5 percent.
All in all, the quarterly results are the third worst in Tesla's history since the brand went public in 2010.
Unlike a brand like Fisker Inc. However, Tesla does not look like a brand that is on the verge of bankruptcy. The American brand still has a value of 175 dollars per stock. That's even after a 4.4 percent drop on March 28.
