Posted 3/28/2024, 12:51:14 PM
Tesla Stock Slumps 28% This Year on Slowing EV Demand and Rising Competitors
- Tesla stock has fallen 28% this year amid concerns over slowing electric vehicle demand and rising competition
- Analysts have sharply cut delivery, revenue, and profit estimates for Tesla recently
- Tesla faces increased competition from legacy automakers and Chinese rivals as EV growth slows
- Tesla's self-driving capabilities, a potential future catalyst, have yet to materialize
- Near-term Tesla investors are focused on upcoming delivery figures and margins as momentum has turned negative
