Tesla (NASDAQ: TSLA) shares dropped another 5% Thursday morning as more news from the fourth quarter came out. Tesla stock has now dropped more than 70% over the last 12 months and is at its lowest level since August 2020. As of 11:05 a.m. ET, shares were hovering near the morning lows, down 4.9%.
It seems like one item after another pops up to explain why Tesla shares continue to slide. The stock dropped almost 40% in December alone. More recently, investors were unhappy with its fourth-quarter and full-year 2022 vehicle delivery report. Today's decline is related to that, with one critical new data point from that information.
Earlier this week, Tesla reported a shortfall in fourth-quarter deliveries, with just over 405,000 electric vehicles sent to customers in the quarterly period. That disappointed investors, who now know vehicles coming from its Shanghai, China, plant were a key reason.
Source Fool.com