Elon Musk lost $30 billion in just over 2 days as the market realized Tesla may not be a tech giant, but a struggling car company
https://fortune.com/2023/10/19/tesla-ea ... tech-firm/
When Tesla unveiled its results for its third quarter, analysts and the financial press mostly focused on how far the numbers fell short of the already negative forecasts. The pre-Halloween report indeed uncorked one of the year’s most ghoulish surprises, given that few enterprises in the annals of financial markets have inspired the kind of unbridled optimism with which Wall Street has showered the EV giant.
Tesla posted its lowest quarterly earnings per share in two years at 66 cents, a figure that lagged consensus estimates by 10%. The stunningly bad numbers spooked investors. On October 17, just before the earnings announcement and call that evening, Tesla’s shares closed at $254. By 10:45 AM on October 20, the stock was hovering around $211, for a drop of over 17%. The fall shrank Tesla’s market capitalization of from $808 to $670 billion, a staggering pullback of $138 billion in just over two trading days.
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Tesla
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Zambonee Guy
- Posts: 80
- Joined: Wed Oct 18, 2023 6:46 pm
Re: Tesla
Thanks for posting. I bought back in. 
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Zambonee Guy
- Posts: 80
- Joined: Wed Oct 18, 2023 6:46 pm
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Slap Shot
- Posts: 40459
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- Location: Here there and everywhere
Re: Tesla
https://apnews.com/article/tesla-autopi ... a46eb3002?
Tesla recalls nearly all vehicles sold in US to fix system that monitors drivers using Autopilot
Now recalls themselves are not that unusual. But a recall that applies to, nearly all vehicles sold in the U.S. nor for serious safety issues:
Tesla recalls nearly all vehicles sold in US to fix system that monitors drivers using Autopilot
Now recalls themselves are not that unusual. But a recall that applies to, nearly all vehicles sold in the U.S. nor for serious safety issues:
Documents posted Wednesday by U.S. safety regulators say the update will increase warnings and alerts to drivers and even limit the areas where basic versions of Autopilot can operate.
The recall comes after a two-year investigation by the National Highway Traffic Safety Administration into a series of crashes that happened while the Autopilot partially automated driving system was in use. Some were deadly.