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Why Tesla Stock Crashed to Start 2023

TheMotleyFool

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Investors may have thought Tesla (NASDAQ: TSLA) shares had bottomed after a drop of 65% in 2022. But the stock is plunging again today to start the new year. Shares have sunk 9.2% as of 10:11 a.m. ET.

Today's decline follows yesterday's update for fourth-quarter vehicle production and deliveries. After expecting 50% growth at the start of 2022, Tesla told investors it delivered a total of 1.31 million electric cars for the full year, representing an increase of just 40% over 2021. Production, however, grew 47% year over year. That gap is what is scaring investors today.

Source Fool.com

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