Tesla Stock Drops Below $200 Despite Market Rally

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Tesla stock is poised to close below $200, hitting levels not seen since May despite a broader market rally and rebound in beaten down tech. Panasonic, a key supplier for Tesla, reported a drop in its September quarter and guided its annual profit forecast down by 15%, potentially due to a global slowdown in EV sales. This news, along with a drop in demand for silicon carbide chips used in Tesla's EV powertrain, may be causing concern among investors.

) stock is poised to close below $200, hitting levels not seen since May despite a broader market rally and rebound in beaten down tech.in its September quarter and guided its annual profit forecast down by 15%, ostensibly from the effects of a global slowdown in EV sales.

That being said, the company said it lowered production in Japan and for global customers, not for North American operations. Panasonic did drop supply of its 1865 EV batteries to Tesla during Q2, these older batteries are still used in Tesla Model S and Model X vehicles, which don’t qualify for Inflation Reduction Act EV tax credits.

In the restaurant industry, stability is critical.So when David Ferguson noticed an unexpected $200 charge on his credit card bill from the tech company he uses to help manage his business, he figured it was an accounting mistake.Ferguson is the chef and owner at Gus, a small restaurant in Montreal's Petite-Patrie neighbourhood.He started using Lightspeed, a publicly traded Canadian point-of-sale supplier, about four years ago.

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