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Tesla Stock plummets as Austin Factory Shuts Down Cybertruck Line (finance.yahoo.com)

submitted 1 day ago by bytesonbike@discuss.online to c/business@lemmy.world

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June 18 - Tesla (NASDAQ:TSLA) shares fell nearly 4% on Tuesday after reports surfaced of a temporary production halt at its Austin, Texas facility, dampening investor sentiment ahead of the company's highly anticipated Robotaxi launch. The stock has declined about 22% so far this year.

According to Business Insider, Tesla plans to suspend manufacturing of its Cybertruck and Model Y models for a week starting June 30. The company reportedly told employees the downtime would allow for maintenance and upgrades on the production lines. No details were provided on which areas may see output improvements.

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[–] sugar_in_your_tea@sh.itjust.works 22 points 1 day ago

And it went back up almost 2% yesterday, and is down maybe 1% for the week. Seems like largely a nothingburger.

[–] misterztrite@lemmy.world 13 points 1 day ago (1 children)

Downvoted, dumb article. Tesla went down on Tuesday then made it mostly back on Wednesday. Closed today(Thursday). Will have to see on Friday which way it goes. It is still up for the week.

[–] Fermion@feddit.nl 8 points 1 day ago

Yeah, a 4% swing is normal volatility for TSLA. Calling typical variation a plummet and attributing a cause is just projection on the author's part.

[–] klu9@lemmy.ca 8 points 1 day ago

Oh no anyway but Clarkson's in a Tesla

"He still claims I was biased and that we pretended his car had broken down when it hadn't. Even though it had. I should really have sued him back, but I feared he'd call me a paedo, so instead I just waited on the riverbank for his body to float past. And now it has."

The Mirror - Jeremy Clarkson 'declares victory' over Elon Musk after lengthy legal battle

[–] ExtremeDullard@lemmy.sdf.org 3 points 1 day ago (1 children)

So, another one of Musk's ventures crashes and burns. I almost sympathize...

[–] altphoto@lemmy.today 4 points 1 day ago

I heard their big rocket go boom this morning... Well, I didn't hear it my self, I just imagine it was fucking loud. LOL.

[–] homesweethomeMrL@lemmy.world 1 points 1 day ago

. . . ahead of the company's highly anticipated Robotaxi launch.

[–] TomMasz@lemmy.world 2 points 1 day ago

Aw, that's too... wonderful for words.