Tesla Stock Is Sliding Today: What's Going On?
Portfolio Pulse from Adam Eckert
Tesla Inc's shares are trading lower following reports of the company lowering its production targets at Gigafactory Berlin-Brandenburg to 4,350 vehicles a week in July and August. This comes after reports of the team at Giga Berlin struggling to meet targets and reducing internal goals to less than 4,000 per week. Tesla's shares have fallen nearly 12% over the last month as the company continues to cut prices on its vehicles, sparking demand concerns.
August 23, 2023 | 12:39 pm
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Tesla's stock is trading lower due to lowered production targets at its Berlin factory and ongoing price cuts on its vehicles, which have raised demand concerns.
Tesla's decision to lower production targets at its Berlin factory indicates potential operational issues, which can negatively impact investor confidence. Additionally, the company's ongoing price cuts on its vehicles may be interpreted as a sign of weak demand, further driving down the stock price.
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