Tesla share price

Tesla Share Price Tumbles as Tesla Warns of Slowdown in 2024

Tesla shares took a hit as the company cautioned about a possible slowdown in 2024, causing concerns among investors and analysts.

Tesla, the electric car giant led by Elon Musk, faced a significant drop in its share price as it reported earnings below expectations and warned of a potential slowdown in 2024. This news sent shockwaves through the market as Tesla shares plummeted by 8%, highlighting worries about the company's future growth prospects. Analysts raised concerns about slowing demand as Tesla suggested that sales growth could be notably lower in the upcoming year.

This latest development marked a continuation of Tesla's struggle, with its stock price down by 25% in 2024. The company indicated that vehicle volume growth might experience a notable decline compared to the previous year. Wall Street reacted strongly to Tesla's opaque guidance, leading to a further decline in the stock price.

As Tesla shares tumbled by 7% due to the slowest growth in three years, investors and analysts voiced their apprehensions about the company's performance. The lackluster quarterly results and the absence of full-year guidance added to the uncertainty surrounding Tesla's future prospects.

Moreover, the market witnessed a significant plunge in Tesla's market value, erasing billions off its valuation after warnings of slowing growth. Despite the challenges facing the EV market, investors pondered the implications of Tesla's Q4 results and the uncertainty surrounding their investment in the company.