Tesla’s stock tumbled below $150 per share, giving up all of the gains made over the past year as the electric vehicle maker reels from falling sales and steep discounts intended to lure more buyers. Shares in the Elon Musk-owned company slid nearly 4% in intraday trading Thursday, in what now stands as the third worst week for the stock in 2024, a year that has been dismal for Tesla investors. The Austin, Texas company’s shares are down 12.4% this week and more than 39% this year. Shares of Tesla Inc. last traded at the $150 level in January 2023. It’s also been a bad year for employees. Tesla said Monday that it was cutting 10% of its staff globally, about 14,000 jobs. The next day, Tesla announced it would try to re-instate Musk’s $56 billion pay package that was rejected by a Delaware judge in January, who said that the arrangement was dictated by Musk and was the product of sham negotiations with directors who were not independent of him. |
China's National Legislature Holds 2nd Plenary Meeting of Annual SessionEurope's farChina Focus: China Issues No. 1 Central Document for 2023, Highlights Rural Vitalization TasksXi Extends Condolences to Greek President over Deadly Train CollisionAgricultural technicians guided farmers in scientific management of wheat fieldsRice bred in southern China grows wellXi Jinping's Economic Thought Steers China Toward ModernityExplainer: How Is China's Vision of Building a Community with a Shared Future for Mankind Viewed?Nation eyes record year for vehicle salesUS firms voice confidence in China at CIIE