Tesla Stock Plummets 8% on Wednesday: What Caused the Skid?

Money | July 11, 2024, 7:13 p.m.

Recently, Tesla (NASDAQ: TSLA) experienced a rollercoaster of investor sentiment, with a sharp decline in share price following reports of a postponed product introduction. Bloomberg revealed that Tesla will delay unveiling its highly anticipated robotaxi, leading to concerns among investors. CEO Elon Musk had set a date for the introduction, which is now expected to be pushed back by around two months. This news, coupled with the upcoming second-quarter earnings release on July 23, has added to the volatility of Tesla stock. Analysts predict a decline in revenue and profitability for the electric vehicle maker. Despite the uncertainty, investors should consider the recommendations from The Motley Fool Stock Advisor team, who have identified promising stocks that could yield significant returns in the future.