Tesla Under Pressure Amid Production and Recall Concerns

3 days ago

Nor Molina

"the first MAG 7 name to report was Tesla and the stock is down. Yeah, lots going on today. I mean, profit plunge. This was all despite a record quarter of vehicle sales here. This is really just underscoring the ongoing strains that we've really seen on the automotive business uh that of course we know is owned by Elon Musk here. And we do know that he also came on the call toward the end saying that he wanted investors to essentially back his trillion dollar compensation package. So we he was really pleading there with investors those on his earnings call here. Uh but we are seeing shares of Tesla ticker TSLA down about 2 and a.5% but earlier down as much as 5.7% for its worst day since July. And we know that this comes after yesterday when the news came out that it was recalling almost 13,000 of its EVs over risk of battery power loss."

The segment highlights Tesla's recent challenges including a profit plunge and a significant recall of EVs due to battery issues. Despite strong vehicle sales in the prior quarter, these operational strains and investor pressures, including calls for backing a large compensation package, point to near-term headwinds.

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