Posted 1/14/2024, 2:18:38 PM
Tesla Struggles Amid Falling Demand, Competition and Security Issues
- Tesla has lost over $94 billion in market valuation in 2024 amid a global slowdown in EV demand
- Tesla has cut prices in China and profit margins have plunged due to intense competition
- Production is being suspended at Tesla's Berlin plant due to security concerns
- Tesla founder Elon Musk has lost $23 billion in personal net worth so far this year
- Tesla is still ahead of rivals in EVs but stock was priced for perfection, making it vulnerable to negative news