Tesla reported a 9% drop in revenue in the first quarter, the steepest year-over-year decline since 2012.
As of Tuesday’s close, the company’s stock price is down more than 40% this year as Tesla faces increased competition across the globe.
Sales growth across EVs is slowing, and Tesla and key rivals have been slashing EV prices, on and off for months, to try to spur demand.
Revenue declined from $23.33 billion a year earlier and from $25.17 billion in the fourth quarter. Net income dropped 55% to $1.13 billion, or 34 cents a share, from $2.51 billion, or 73 cents a share, a year ago.
And the stock goes UP because Musk says that a cheap car he cancelled he's now going to make and it'll go on sale sometime at the end of 2025.
People are fucking stupid and deserve to lose every last dime they have.
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