Tesla has already lost nearly 32% since the beginning of the year through April 4, making it one of the worst performing stocks in the S&P 500. We take a look back at the ups and downs in Tesla stock since the beginning of this year with five charts. The photo is the company’s logo. Photographed in January 2018 in Los Angeles (2024 Reuters//Lucy Nicholson)
(Reuters) – Shares of Tesla Inc (TSLA.O), opens new tab, plunged on the 5th after Reuters reported that the company had halted development of a low-cost model.
The company will continue to develop fully self-driving vehicles called robotaxis based on the same compact car platform.
Tesla has already fallen nearly 32% since the beginning of the year through the 4th, making it one of the worst performing stocks in the S&P 500 (.SPX), opens new tab.
We take a look back at the ups and downs in Tesla stock since the beginning of this year with five charts.
◎The fall of the Magnificent Seven
Tesla is Apple (AAPL.O), opens new tab, Microsoft (MSFT.O), opens new tab, Amazon.com (AMZN.O), opens new tab, Alphabet (GOOGL.O), opens new tab, Along with Meta Platforms (META.O), opens new tab, and NVIDIA (NVDA.O), opens new tab, it is one of the seven super-large stocks, “The Magnificent Seven,” but the stock has fallen sharply since the beginning of the year. position is threatened. Analysts prefer stocks related to artificial intelligence (AI), such as semiconductor companies Advanced Micro Devices (AMD.O), opens new tab and Broadcom (AVGO.O), opens new tab. Some say it might be suitable for the Magnificent Seven. Reuters Graphics
◎Shrinking market capitalization
Tesla’s stock market capitalization has shrunk by more than $250 billion this year. Although it still has the highest market capitalization of any automaker in the world, the gap with Toyota Motor Corporation (7203.T), opens new tab is narrowing. Toyota stock has risen about 40% this year, adding about $80 billion to its market capitalization.
Tesla’s market capitalization peaked at more than $1 trillion in late 2021, but has since fallen to more than half.
Tesla’s slide from more than $1 trillion in market value Tesla’s slide from more than $1 trillion in market value
◎Decrease in number of vehicles delivered
Tesla’s quarterly car deliveries fell for the first time since the second quarter of 2020. At the time, the company was forced to drastically reduce production due to the coronavirus pandemic.
Analysts say the effectiveness of stimulating demand by cutting margins and lowering prices is waning. Tesla is currently producing far more cars than it is delivering.
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◎Sales volume is lower than overseas competitors
Automakers such as Volkswagen (VOWG_p.DE), opens new tab, Toyota and Honda (7267.T), opens new tab sold far more cars than Tesla last year. Yet Tesla’s stock market capitalization exceeds that of Toyota, Mercedes-Benz, and Porsche combined. Reuters Graphics
◎Mr. Musk’s words and actions and potential customers
According to a study by market research firm Caliber, the number of potential customers for Tesla cars is shrinking in the United States. This is partly due to CEO Elon Musk’s split personality.
Caliber’s “purchase consideration score” for Tesla cars was 31% in February, more than half of the 70% score in November 2021.
Mr. Musk’s increasingly right-leaning words and actions are casting a shadow on Tesla’s brand strength and demand, according to five marketing, research and auto experts interviewed by Reuters.
Reuters Graphics Reuters Graphics
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2024-04-08 10:30:10
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