Tesla shares on track for worst month ever

Published

1 year ago

December 23, 2022

It’s been a wild ride for Tesla shares, which are on track for their worst month ever

Tesla’s recent sell-off has deepened over worries about softening demand for electric cars and Elon Musk’s distraction with Twitter.

Tesla stocks dropped almost 10 per cent on Thursday to their lowest level since September 2020.

Dan Ives from Wedbush Securities said Musk’s recent poll to remove himself as Twitter CEO is a win for the car manufacturer.

“With the poll closing this morning, it appears Musk’s reign as CEO of Twitter will come to end and thus be a major positive for Tesla’s stock starting to slowly remove this albatross from the story.”
DAn ives, wedbush securities

Tesla’s website showed it was offering discounts on Model 3 and Model Y electric vehicles delivered in the U.S. this month.

Tesla’s stock has tumbled 36 per cent so far in December.

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