Tesla Stock On Track Open At Lowest Since Early June: What's Going On?
Portfolio Pulse from Shanthi Rexaline
Tesla, Inc. (NASDAQ:TSLA) shares are trading lower in premarket trading on Monday, extending the lean patch seen since last Wednesday. The company's Q3 results showed both top-and bottom-line misses amid further margin erosion. CEO Elon Musk did not offer any clarity on the margin trajectory and expressed caution regarding the production ramp-up of the upcoming Cybertruck. Despite price cuts, the company has not seen the intended effect of lifting volume. The stock could also be reacting to the rising bond yields, which make equities less attractive.
October 23, 2023 | 12:06 pm
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Tesla's stock is trading lower due to disappointing Q3 results and uncertainty about future margins and Cybertruck production. Rising bond yields could also be making the stock less attractive.
Tesla's Q3 results missed expectations, causing investor concern. CEO Elon Musk's lack of clarity on future margins and caution about Cybertruck production add to the uncertainty. Additionally, rising bond yields make equities like Tesla less attractive, potentially driving the stock price down.
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