Why Tesla Shares Kept Sliding Today
Tesla (NASDAQ: TSLA) investors have been getting bombarded recently with analyst cuts in second-quarter vehicle delivery estimates and projected financial results. That's understandable considering the global supply chain disruptions and especially COVID-19-related production delays at its Shanghai facility.
The result has been a 10% drop in the stock over the last month, including another dip yesterday. That continued today with some additional news from the company contributing to the decline. Tesla stock was down 3.4% as of 11:12 a.m. ET.
Today's move followed an announcement last night that the company was cutting 200 jobs and closing its San Meteo, California, office where employees worked to improve Tesla's Autopilot driver assistance systems.
Source Fool.com
