Why Tesla Stock Dropped Monday
Tesla (NASDAQ: TSLA) shareholders approved a 3-for-1 stock split earlier this month, and it will take effect later this week. While some investors may be looking forward to that, Tesla shares were dropping Monday as more important aspects of the business were being given priority. Tesla shares were down as much as 3.5% in early trading, and remained 2.3% below Friday's closing price as of 12:35 p.m. ET.
Tesla investors are experiencing a cross-current of news after the weekend. A presumably positive development for the company was CEO Elon Musk's Twitter post over the weekend that the company will boost the price of its full self-driving (FSD) option by 25% beginning Sept. 5. That is when a new update rolls out. FSD currently costs $12,000 or is available for $199 per month using a subscription. It will cost $15,000 to be included with vehicles ordered after the rollout of the new software.
Source Fool.com
