Tesla’s stock has plummeted 70% this year, but the electric vehicle pioneer is fighting back with some enticing deals.
Tesla has been facing a series of challenges in recent months, including production delays, supply chain issues, and concerns about the company’s financial stability.
These challenges have contributed to a significant drop in the company’s stock price, with shares falling from almost $200 at the start of the year to just over $123. However, CEO Elon Musk remains optimistic about the company’s future and is working to implement measures to improve efficiency and reduce costs.
One factor that has had a particularly negative impact on Tesla’s stock price is Musk’s behavior on social media, particularly his decision to purchase Twitter and make a series of erratic and controversial statements.
This behavior has led to criticism and concern from investors, which has had a negative impact on the company’s stock price. In addition, Musk’s decision to sell $3.6 billion of Tesla stock last week and almost $40 billion since late 2021 has further exacerbated this decline.
To boost demand for its electric vehicles, Tesla has lowered prices on some models and is offering current owners free trials of its Enhanced Autopilot feature, an advanced driver-assistance system that includes features like automatic lane changes and automatic parking and summoning.
The company is also offering various discounts to buyers in different countries, including $5,000 in Canada and around $850 in China. In addition, Tesla is working to streamline its operations and reduce costs in order to improve efficiency and ensure long-term growth.
Despite these challenges, Tesla remains committed to innovation and sustainability and has a strong brand and dedicated fan base. The company is working to overcome the current challenges and emerge even stronger in the future. Will Tesla be able to turn things around and bounce back from this tough period?
Only time will tell, but one thing is for sure: the fate of Tesla and its visionary CEO, Elon Musk, will continue to be a topic of intense interest for the foreseeable future. Stay tuned for further updates on Tesla’s progress as it works to overcome these challenges and achieve even greater success in the future.