Here’s Why Tesla Shares Are Falling:
- Plaid+ model production discontinued:
CEO Elon Musk confirmed Tesla will not produce a Plaid+ version of Model S.
Instead, the high-performance niche is expected to be filled by a new Roadster scheduled to start production in 2025.
- Large Recall:
Tesla is recalling about 1.85 million vehicles in the U.S. due to the risk of driver vision being obscured by the unlocked hood.
Despite distributing wireless updates to address this issue, one of the biggest recalls this year is negatively affecting market sentiment.
- Mixed investor sentiment:
Fear and greed indexes remain in “neutral” territory, reflecting mixed feelings among investors.
Also, the market is keeping an eye on the upcoming earnings report and the Federal Reserve’s decision.
These factors are compounding, causing Tesla shares to trade lower today.
4:08 PM EDT, Julie 30, 2024 (Benzinga Newswire), but there are also many good news. However, Elon Musk doesn’t mention it in advance. Perhaps when the stock price comes down to a certain extent, it will release another good news one by one. Now is the time to think about Tesla’s future value. The believer should take it and if you don’t believe it, you should sell it.