Posted 4/5/2024, 8:03:00 PM
Tesla Stock Sinks to 2024 Low on Report of Halted $25K Car Plans and Weakening Earnings Outlook
- Tesla stock hit 2024 lows after Reuters reported the company canceled plans for $25,000 vehicle to focus on robotaxi
- Musk denied the Reuters report, calling it a lie
- Tesla stock dropped 3.6% to 164.90, hitting 2024 intraday low of 160.51
- Tesla earnings expected to decline over 13% in 2024 and remain below 2023 level
- TSLA fell 13% in March, is biggest S&P 500 loser in 2024 with earnings outlook worsening
