From Nasdaq: 2024-04-16 11:44:00

Elon Musk and Tesla face criticism as company announces layoffs of around 10% of its workforce. Stock price drops about 4% as layoffs are seen as a sign of demand slump. Market adjusting to reality after years of pricing in massive growth in EV market. Tesla making necessary adjustments to compete.

Despite initial market reactions, Tesla’s adjustments to pricing, incentives, and costs are setting the company up to survive and thrive in a highly competitive market. While stock may continue to face selling pressure, futureproofing efforts are likely to pay dividends in the long run. Averaging into a position or adding to an existing one could be a smart move for investors.



Read more at Nasdaq: Tesla (TSLA) Can’t Catch a Break