Tesla stock closes below $200, hits 5-month low as a tough October rolls on

) stock dropped 4.8% on Monday, dropping below $200 and hitting lows not seen since late 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.

MONTREAL — Air Canada says the country's passenger rights overhaul will hardly hurt its bottom line, though the full effect won't be known until implementation next year. On a call with analysts Monday, chief financial officer John Di Bert said the financial impact of regulatory changes — both rights reforms and stricter rules around pilots' shift length and rest periods — would put "additive pressure" on costs.

Shakedown or smart business? Quebec restaurants balk at hefty penalty for using competitor's payment machines

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Tesla Stock Drops Below $200 Despite Market RallyTesla 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.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

US Employers Expected to Slow Hiring in OctoberEmployers in the US are projected to have added about 190,000 jobs in October, following strong job growth in the previous months. However, hourly earnings are expected to rise at the slowest pace in over two years, reflecting increased labor force participation. The Federal Reserve is likely to keep interest rates steady due to moderating pay gains. The resilient labor market has supported consumer spending and economic growth, while easing recession concerns. Economists will also monitor a report on third-quarter employment costs for signs of cooler wage growth.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »