(NASDAQ: TSLA) investors have had a tough start to 2024. The stock is down nearly 30% year to date, though returns more than doubled in 2023. But in the past several weeks, news has continued to accumulate that has investors taking profits from last year and sitting on the sidelines.
Shares tumbled again today by as much as 7%. As of 12:30 p.m. ET, Tesla stock was still lower by 3.8% to start this week's trading.
It hasn't just been profit taking that has led to investors selling Tesla stock this year. Several other things have snowballed that have put Tesla's future prospects into question. Against a backdrop of multiple examples of extreme weather that have exacerbated consumers' concerns with owning an electric vehicle (EV), the company itself has been under fire.
Source Fool.com