RudyAsh

 22 Mar 24

tl;dr

Tesla (NASDAQ:TSLA) fell in early trading on Friday as the electric vehicle stock continues to struggle to gain traction in 2024. The selling pressure is being tied to a report that Tesla (TSLA) decided to curtail electric vehicle production at its plant in China. The development is not a total shoc...

Tesla (NASDAQ:TSLA) fell in early trading on Friday as the electric vehicle stock continues to struggle to gain traction in 2024. The selling pressure is being tied to a report that Tesla (TSLA) decided to curtail electric vehicle production at its plant in China. The development is not a total shock after Elon Musk warned investors in January that deliveries growth rates would be notably lower this year due partially to macroeconomic factors. Sergio Mellado thinks Tesla (TSLA) lowering prices in general is the right move in the long run. "Lowering prices will not only put pressure on its competitors but also bolster other potentially more profitable areas of its business," observed Mellado. "All this without taking into account Tesla's other business lines. Apart from automotive, Tesla is involved in the energy and solar panel business, robotics, and artificial intelligence," he noted. Morgan Stanley is also taking the long view on Tesla (

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