- Tesla fell more than 3% in premarket trade on Monday, as its latest global price cuts fanned Wall Street concerns about dwindling margins at the electric-vehicle maker in the run-up to its earnings report later this week.
Investors are awaiting clarity from CEO Elon Musk on Tesla's strategy after he cut 10% of the company's staff last week and said focusing on autonomous driving was a "blindingly obvious" move.Musk had earlier this month announced an event in August to unveil "Robotaxi", after a Reuters report on April 5 said Tesla had scrapped its plan to develop its long-awaited affordable EV in favor of robotaxis.
Monday's drop was set to erase about $15 billion from its market value of $468 billion. While that still makes Tesla the world's most valuable automaker, Toyota has slowly been narrowing the gap on the back of a boom in demand for its hybrid vehicles.If You’d Invested $5,000 in Brookfield Renewable Partners Stock in 2023, This Is How Much You Would Have TodayTelus stock is down 37% in two years and is trading near its pandemic low, making investors wonder how low it can go.