Tesla Shares Drop over 2% in Premarket Trading

Tiger Newspress2023-04-25

Tesla Inc. increased its forecast for capital expenditures again and is now budgeting at least $7 billion for this year.

The electric-car maker expects to spend as much as $9 billion in 2023, according to a regulatory filing. As of January, Tesla provided a forecast range that was $1 billion less at both the low and high end.

While Tesla executives have been emphasizing cost-cutting efforts recently, as the company has repeatedly reduced vehicle prices, the carmaker has increased its capex forecast several times in the last nine months. In July, the company was expecting $6 billion to $8 billion for 2022 and the following two years.

Tesla shares dropped over 2% in premarket trading.

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Comments

Bi Han
2023-04-25
Bi Han
Buy when it's red
Imwinfred
2023-04-25
Imwinfred
Panic sell and we can be up
UTOtrader
2023-04-25
UTOtrader
Selling more down
Kobeba
2023-04-25
Kobeba
Dead stock

Leave a comment

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