Why Tesla Stock Flopped 5% on Tuesday

Up again, down again Tesla (NASDAQ: TSLA) stock, the world's fastest electric roller coaster, tumbled 4.9% through 12:30 p.m. ET Tuesday, giving back one-third of the 15% gains it collected yesterday after announcing Elon Musk was meeting with China's premier to discuss FSD self-driving technology.

And the reason for today's reversal? Tesla is laying off all workers on its uber-popular Tesla Supercharger EV charging team.

The fact that Tesla is making job cuts, laying off 10% of its workforce in response to a sharp slowdown in sales, is no secret. But as electric transportation website Electrek reports today, new layoffs include "senior executives and longtime veterans," as well as "the entire Supercharging team."

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Source Fool.com