Tesla plummeted by about 9%, resulting in a net asset loss of $24 billion! Musk issues a risk warning

Tech 2023-10-23 00:41:33 Source: Network

Tesla plummeted by about 9%, resulting in a net asset loss of $24 billion! Musk issues a risk warningThis week, Tesla released its third quarter financial report, which showed that both revenue and earnings per share fell short of expectations, marking the first such situation since July 2019. Analysis has pointed out that the phone call after the financial report is Tesla's most cautious one in years

This week, Tesla released its third quarter financial report, which showed that both revenue and earnings per share fell short of expectations, marking the first such situation since July 2019. Analysis has pointed out that the phone call after the financial report is Tesla's most cautious one in years. Musk warned of many risk factors during the conference call, such as the macroeconomic environment with high interest rates, and emphasized the need for the market to lower expectations for electric pickup trucks, Cyberrack. Currently, mass production still faces challenges, which may take one to 18 months to achieve positive cash flow.

After the financial report was released, Tesla's stock price fell by about 9% on Thursday. Forbes data shows that Musk lost $24 billion in net assets as a result.

Musk's other company, social media "X", started charging an annual fee of $1 to new users in New Zealand and the Philippines this week. If not paid, users can only read posts and cannot comment, forward, or post. Musk expressed the hope of reducing spam and robot accounts.

Source: CCTV Finance

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