Tesla is not having a good start to the week. In its defense, it didn’t have a very good end to last week, either.
Today the news is that recent price cuts have irked Tesla investors, who sent its shares off around 4% in early trading today. Those losses have extended Tesla’s total share-price declines to around 43% for the year. Which is, as they say, a lot.
But those price cuts are hardly the only issues needling the U.S.-based EV company. Tesla’s last week saw the company slash its staffing, including high-performers. With the company reporting earnings tomorrow, its actions at the moment are under even greater scrutiny than usual.
The backdrop to all of this is the company’s apparent move away from a basement-priced EV, and toward a robotaxi effort that some consider to be technologically premature. Regardless, Tesla’s price cuts, pivots and mass-recall of its Cybertruck vehicle are not the recipe for content investors. Hit play, and let’s have some fun.
After we recorded this clip, Bloomberg posted a fascinating dig into the company’s current form that we recommend as further reading.