From Nasdaq: 2025-02-21 14:29:31

Tesla (NASDAQ: TSLA) shares dropped 4% due to a recall of hundreds of thousands of vehicles, causing concern among investors as the market tumbled. The University of Michigan’s consumer sentiment index declined by 10% in January, exacerbating worries about inflation and consumer spending, which make up a significant portion of GDP.

In a volatile market, Tesla’s recall of over 375,000 vehicles due to steering issues in certain models has raised concerns. Analysts have mixed views on Tesla’s performance, with the stock trading at 120 times forward earnings and uncertainty looming. Investors are cautious about richly valued stocks like Tesla amid economic challenges.

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Read more at Nasdaq: Why Shares of Tesla Are Sinking Today