Despite a strong recovery in the second and at the start of the third quarter, Elon Musk’s electric vehicle (EV) maker, Tesla Motors (NASDAQ: TSLA), has been experiencing significant turbulence – primarily stemming from a substantial slowdown in demand – in 2024.
Indeed, though both the most recent available earnings and delivery reports have been better than expected, Tesla is nonetheless still facing the headwinds of the ‘EV winter.’
The issues have been exacerbated both by its own issues, such as the August recall of 1.6 million vehicles in China arising from software issues – and by a broader market slump in early August. Tesla, in fact, remains in the red in the year-to-date (YTD) chart.
The decline has been particularly sharp in the last 30 or so days as TSLA stock price today stands at $200.43, 23.25% below its yearly highs above $263, reached in…
