2 Reasons Why Tesla Stock Is Toast Today

Tesla (NASDAQ: TSLA) took another tumble on Thursday, falling 3.6% through 11:10 a.m. ET in response to a couple of negative news items.

Biggest news first: Tesla's electric Cybertruck, which was first unveiled in 2019 with a promise of production by 2021, obviously missed that deadline. Tesla subsequently suggested Cybertrucks might be available for purchase by 2022, but now, even that's in doubt.

As automotive industry website Edmunds.com pointed out last week, and TheVerge.com re-reported today, "reference to a 2022 production schedule [for Cybertruck] was scrubbed" from Tesla's website last week. Instead of the promise that "you will be able to complete your configuration as production nears in 2022," the site now says simply that "you will be able to complete your configuration as production nears" -- with no indication of how near to production Cybertruck actually is.  

Continue reading

Source Fool.com