Tesla Shares Plunge 8% as Q3 Disappoints, Musk Warns of Profits Squeeze

Tesla shares plunged 8% on Thursday after disappointing Q3 earnings and revenue.

CEO Elon Musk warned higher interest rates could reduce future profits.

Musk said Cybertruck production delays mean it will take immense work to reach volume production profitably.

The stock drop put Tesla on track for a $65 billion market cap wipeout.

Despite the losses, Tesla stock is still up 97% year-to-date in 2022.