Thus, Tesla is about to trim slightly a 69% loss this yearwhat ranked it among the worst performing companies in the S&P 500 index in 2022amid concerns about declining demand and widespread jitters over growth assets.
After this year’s slump, the firm’s value has already fallen by below that of Walmart, JPMorgan Chase & Co. and Nvidia Corp.
Tesla shares lost 11% on Tuesdayafter it emerged that Tesla plans to cut production at its Shanghai factoryreigniting fears about the lawsuit.
This added to the concern prompted by another report last week that Tesla was offering American consumers a discount of u$s7,500 for the delivery of its two largest volume models before the end of the year.
In this frame, growth stocks suffered from the 34% drop in the Nasdaq 100As the US Federal Reserve (FED) raised rates of interest to control inflation.
This result is part of generalized annual losses for large technology companies, among which stand out Meta, Amazon and Googlewhich had a year with losses of close to US$44,000 million.
Among the main reasons behind the falls are the global inflationary trend, the low growth of the economies, lower advertising expenses, and the rise in interest rates in the central economies in an attempt to control inflation.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
