Why Tesla Stock Is Sliding Before Opening Bell Today
Portfolio Pulse from Shanthi Rexaline
Tesla, Inc. (NASDAQ:TSLA) shares are down in premarket trading, despite broader market optimism. The decline is attributed to rumors of potential large-scale layoffs, with reports suggesting up to 20% of the workforce could be affected. This news comes ahead of Tesla's quarterly results, which are anticipated to underperform following a first-quarter delivery miss. Additionally, Tesla recently halved the subscription price for its full self-driving software. In premarket trading, Tesla shares fell 0.61% to $171.05.
April 15, 2024 | 10:10 am
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Tesla's premarket stock decline is driven by rumors of significant layoffs and concerns over upcoming quarterly results, alongside a price cut for its self-driving software subscription.
The stock's premarket decline is directly tied to negative sentiment stemming from rumors of large-scale layoffs, which could affect up to 20% of Tesla's workforce. This, combined with the anticipation of underperforming quarterly results and the recent price cut for its self-driving software, contributes to a bearish outlook for Tesla's stock in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100