Tesla shares are trading lower following a 24% drop in California registrations. It was also reported Tesla halted some production lines due the Microsoft-CrowdStrike outage. Elon Musk said the company deleted CrowdStrike from all of its systems.
Portfolio Pulse from Benzinga Newsdesk
Tesla shares are trading lower following a 24% drop in California registrations. Additionally, Tesla halted some production lines due to the Microsoft-CrowdStrike outage, and Elon Musk announced the company has deleted CrowdStrike from all of its systems.
July 19, 2024 | 5:57 pm
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NEGATIVE IMPACT
CrowdStrike is negatively impacted as Tesla, a major client, has removed its services following a production halt caused by a Microsoft-CrowdStrike outage.
Tesla's decision to remove CrowdStrike from its systems following the outage could lead to a loss of a significant client for CrowdStrike, potentially impacting its revenues and market perception. This news is likely to have a negative short-term impact on CrowdStrike's stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Tesla shares are trading lower due to a 24% drop in California registrations and halted production lines caused by the Microsoft-CrowdStrike outage. Elon Musk announced the removal of CrowdStrike from Tesla's systems.
The 24% drop in California registrations indicates a significant decline in demand in a key market, which is likely to negatively impact Tesla's revenues. Additionally, the halted production lines due to the Microsoft-CrowdStrike outage could disrupt supply chains and production schedules, further affecting short-term performance. Elon Musk's announcement of removing CrowdStrike from Tesla's systems may also raise concerns about cybersecurity and operational stability.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100