Tesla Stock Dips as Investors Weigh Rising Costs August 4, 2023
Tesla’s stock price dipped on Friday, August 4, 2023, as investors weighed the company’s rising costs against strong demand for its electric vehicles.
The stock fell as much as 4% before closing down 2.5% at $750.40.
Tesla’s earnings report last week showed that the company’s costs are rising, due to factors such as inflation and supply chain disruptions. However, the company also reported strong demand for its vehicles, with deliveries up 27% in the second quarter of 2022.
Investors are weighing these factors as they decide whether to buy or sell Tesla stock. Some investors are concerned that the company’s rising costs will hurt its profitability in the future. Others are confident that Tesla’s strong demand will offset its rising costs.
Analysts are divided on Tesla’s stock. Some analysts believe that the stock is overvalued, while others believe that it is undervalued.
What to Watch:
Investors will be watching Tesla’s production and delivery numbers in the coming quarters. They will also be watching the company’s progress on its self-driving car technology.
Tesla’s stock is volatile, and it is difficult to say whether the stock will go up or down in the short term. However, the company is well-positioned for growth in the long term, and investors should keep an eye on its progress.
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