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Why Tesla Stock Fell 10% This Week

TheMotleyFool

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Shares of Tesla (NASDAQ: TSLA) fell by as much as 13.4% this week, according to data from S&P Global Market Intelligence. The leader in electric vehicles (EVs) and one of the most valuable stocks in the world posted disappointing delivery numbers for the first quarter of 2023 as it continues to build up inventory. Shares of Tesla were down 10.8% this week and are down 47% over the last 12 months.

Every quarter, Tesla updates investors with how many cars it produced and delivered to customers over the last three months. In the first quarter of 2023, Tesla produced about 441,000 EVs around the globe and delivered 423,000 to customers.

Deliveries were up 36% year over year, indicating the company once again gained market share.

Source Fool.com

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