Tesla’s 2022 Collapse Hits 69% After Deepest Selloff Since April

Bloomberg2022-12-28

Stock has lost around $720 billion in valuation this yearLatest decline comes amid growing concern about demand risksThe tailspin inTesla Inc.shares accelerated Tuesday, marking their longest losing ...

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Comments

Deonc
2022-12-28
Deonc
ok
JulianAlson
2022-12-28
JulianAlson
k
JulianAlson
2022-12-28
JulianAlson
k
Bodoh
2022-12-28
Bodoh
Ooops
Adren
2022-12-28
Adren
Good riddance
boomer9595
2022-12-28
boomer9595
Dwn down down
- newbe1001:
  k

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It has lost 69% its value amid Musk’s Twitter takeover and related distractions, investor jitters about growth assets and most recently, worries that high inflation and rising interest rates will dampen consumers’ enthusiasm for EVs.“Our sense is the company’s market share has peaked and concerns about its over-reliance on China for profits and the factory shutdown are weighing on the stock,” said Jeffrey Osborne, an analyst at Cowen. Tesla “appears to have burned through its backlog as they are resorting to promotions to move cars and delivery lead times are 1-2 weeks in the majority of the world.”Sponsored ContentWhat Makes a Home Sustainable?SamsungMore fromBloombergHyperdriveToyota Hits Record November Output, But Shortages LoomNio CEO Warns of Sales Challenges in First Half on China DemandChinese EV Maker Nio Launches New Models, Upgraded Battery SwapsTesla’s Ugly December and Other Omens for the Auto IndustryWall Street analysts started flagging warnings about EV demand earlier this month, with the average 12-month price target for Tesla falling 10% since the end of November. Meanwhile, the average adjusted earnings estimate for 2022 has declined over 4% from just three months ago.Tesla has now seen around $720 billion of shareholder value evaporate this year. 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