"Elon Musk Denies Reports as Tesla Stock Plummets Over $25,000 EV Rumors"
TL;DR Summary
Tesla stock hit new lows after Reuters reported the company has canceled plans for its $25,000 vehicle and is focusing on developing its self-driving robotaxi platform, despite CEO Elon Musk denying the report. The stock dropped 3.6% to 164.90, hitting its 2024 low of 160.51 intraday. Analyst consensus now has 2024 Tesla earnings below 2023's level, signaling another year of earnings declines for the company. Wall Street expects Tesla earnings per share of just $2.76 in 2024, down more than 13% from last year.
- Tesla Stock Hits New 2024 Lows On Reuters Report EV Giant Has Killed Plans For Its $25000 Vehicle Investor's Business Daily
- Elon Musk says Reuters 'lying' in reporting Tesla scrapped plan for low-cost car Fox Business
- Tesla casts doubt on the quest for a Model T of EVs Yahoo Finance
- Why is Tesla stock falling? What did Elon Musk say about affordable EV? Fortune
- Rumours fly about Tesla scrapping $25000 EV Driving
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