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."
Source Fool.com
Tesla Inc Stock
€193.72
4.100%
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With a target price of 247 € there is a positive potential of 27.5% for Tesla Inc compared to the current price of 193.72 €.
