Tesla Shares Plunge 13.5% in Worst Single-Day Drop in Years
Elon Musk's electric vehicle maker suffered a sharp selloff amid mounting investor concerns over heavy spending on artificial intelligence and robotics alongside weak profits.
Tesla Inc. shares fell approximately 13.5% on Thursday, marking one of the largest single-day market losses in the company's history.
The automaker has faced persistent pressure throughout the year, with its stock declining about 27% year-to-date. Investors have expressed growing concern over the company's surging capital expenditures directed toward artificial intelligence and robotics, which have coincided with weaker-than-expected profitability.
Priya covers listed equities and corporate earnings, reading quarterly results and guidance for what they signal about sector health and forward valuations.
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