Tesla Stock Facing Steep Declines Amid Cybertruck Woes and Software Discounts

Friday, 19 April 2024, 19:16
Tesla stock continues to plummet as the EV leader struggles with a major Cybertruck recall and significant discounts on its autonomous driving software. The company's poor delivery numbers for the first quarter have added to the downward pressure on its stock. Despite the broad market surge, Tesla's shares have fallen over 10% this week and 40% year-to-date, signaling ongoing challenges for the electric vehicle giant.
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Tesla Stock Facing Steep Declines Amid Cybertruck Woes and Software Discounts

Why Tesla Stock Was Falling (Again) This Week

Cybertruck recall, major self-driving discounts

  • Tesla announced a major recall for its new Cybertruck over a faulty accelerator pedal, raising safety concerns.
  • The company is offering significant discounts on its Full Self-Driving driver assist program, potentially impacting its software sales significantly.

The EV leader faces challenges as it deals with production issues and lacks sufficient demand for its latest offerings.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

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