Why Tesla's Falling Ahead of Its Stock Split
The stock market is having a tough day on Monday, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) is leading the way lower. As of 12:30 p.m. ET, the Nasdaq was down 259 points, or about 2%, to 12,447. That was worse than other major market indexes, which were generally down around 1.5% in early afternoon trading.
Tesla (NASDAQ: TSLA) has been a strong performer in the Nasdaq over the past several years, but it isn't helping the index's cause on Monday, as the stock is down more than 2%. The electric vehicle pioneer announced some mixed news over the weekend, and that has investors thinking twice about the stock even as the company plans to move forward with its stock split later this week. You'll find all the details below.
Over the weekend, Tesla announced that it would boost the amount it charges to give auto buyers prospective access to full self-driving capability on its vehicles. Currently, customers pay $12,000 when they order a vehicle to have the ability to receive full self-driving updates. Beginning on Sept. 5, according to a tweet from CEO Elon Musk, that price will rise to $15,000. The move marks the second time this year that Tesla has raised the price of the service, which began 2022 at $10,000.
Source Fool.com
