Tesla Faces Market Turbulence in 2024 Despite Record Revenue
Tesla's financial performance in 2023, with a revenue of $97 billion, has been a key focus for investors. However, 2024 has brought challenges, notably impacting its market position. In January 2024, Tesla's shares saw a significant 24% drop, primarily due to expected weaker sales growth, wiping out about $80 billion in market value.
The release of Tesla's Q4 earnings on January 24 further intensified these challenges. Earnings per share were reported at $0.71, below the expected $0.74, leading to an 8% drop in stock price and a fall below the $200 mark, a level last seen in May 2023.
Since the Q4 report, Tesla's stock has struggled to surpass the $200 threshold, which now acts as a psychological barrier. The persistence of this resistance level suggests a cautious outlook for Tesla's stock, with potential for further declines if it fails to break through this barrier.
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The release of Tesla's Q4 earnings on January 24 further intensified these challenges. Earnings per share were reported at $0.71, below the expected $0.74, leading to an 8% drop in stock price and a fall below the $200 mark, a level last seen in May 2023.
Since the Q4 report, Tesla's stock has struggled to surpass the $200 threshold, which now acts as a psychological barrier. The persistence of this resistance level suggests a cautious outlook for Tesla's stock, with potential for further declines if it fails to break through this barrier.
If you enjoyed this post, make sure to like, and follow for more quality content!
If you have any questions or comments, comment below. We reply to every comment!
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
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