That all changed in trading last night on Wall Street as Tesla hit a low of 8.6% in just one day, after the company reported on Sunday that it delivered 343,830 cars and produced 365,923 in the third quarter – a jump compared to the 254,695 vehicles Tesla delivered to customers in the second quarter – but still below to Wall Street estimates. On Wall Street they said that the shortage is due to logistical problems, and not from anything more fundamental. However, it can be argued that investors are concerned about the demand for electric vehicles, with the lack of delivery amounting to about 14,000 or 15,000 units.
Of course, neither Tesla nor Amazon are immune to the broader market conditions, and the markets that are in severe turmoil this year mainly in light of inflation and interest rate increases. Uncertainties surrounding the end of the US Fed’s aggressive interest rate hike and fears of a potential recession caused stocks to fall, with the Nasdaq falling 31% in 2022 and 17% since August 17.
Similar to Tesla, Apple also recorded a 19% drop in just a month and a half. The technology giant shows that it is not immune to the macro damage and although for a certain time it showed resilience, it shows that it is a company like all companies.
Comments to the article(0):
Your response has been received and will be published subject to the system policy.
Thanks.
for a new comment
Your response was not sent due to a communication problem, please try again.
Return to comment