Tesla Shares Are Trading Lower Today: What's Going On - Tesla (NASDAQ:TSLA)

Benzinga

2024-07-31 00:08

Tesla's shares are trading lower Tuesday. There has been a series of announcements from the company in the last few days. Here's what you need to know.

　　Tesla Inc.‘s TSLAHTTPSTSLA shares are trading lower Tuesday. There has been a series of announcements from the company recently. Here’s what you need to know.

　　What To Know:CEO Elon Muskconfirmed Tesla will not produce a Plaid+ variant of the Model S, with the high-performance niche now expected to be filled by the upcoming Roadster, set to start production in 2025.

　　Adding to the volatility, Tesla is recalling approximately 1.85 million vehicles in the U.S. due to a risk of unlatched hoods obstructing drivers views. Despite issuing an over-the-air update to address the issue, the recall — one of the largest this year — has contributed to market sentiment.

　　What Else: The Fear & Greed Index remains in the “Neutral” zone, reflecting mixed sentiment among investors. Additionally, the market is bracing for upcoming earnings reports and Federal Reserve decisions.

　　Tesla also recently reported earnings per share (EPS) of 52 cents, significantly surpassing estimates of 62 cents. The company also reported revenue of $25.500 billion, exceeding the forecasted $24.726 billion.

　　TSLA Price Action:Tesla shares were down by 4.08% at $222.62 at market close Thurday according to Benzinga Pro.

　　Image via Shutterstock.

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