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Tesla's Price Cuts and Layoffs Indicate There's More Downside in the Stock

Tesla's business is heading in the wrong direction, and the stock slide may continue.

By Travis Hoium – Apr 18, 2024 at 6:03AM EST

Tesla (TSLA +3.01%) announced layoffs earlier this week, and that followed weak deliveries for the first quarter of 2024. What investors need to look at is this performance in relation to the stock price, which this video from Travis Hoium shows is completely out of line with competitors.

*Stock prices used were end-of-day prices of April 16, 2024. The video was published on April 17, 2024.

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About the Author

Travis Hoium
Travis Hoium is a contributing Motley Fool stock market analyst covering solar energy, technology, and growth stocks. Before The Motley Fool, Travis was a mechanical engineer at 3M and founded a virtual reality company. He holds a bachelor’s degree in mechanical engineering and a master’s degree in business administration from the University of Minnesota.
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Travis Hoium has positions in General Motors. The Motley Fool has positions in and recommends Tesla. The Motley Fool recommends General Motors and recommends the following options: long January 2025 $25 calls on General Motors. The Motley Fool has a disclosure policy. Travis Hoium is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link, they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.

Stocks Mentioned

Tesla Stock Quote
Tesla
NASDAQ: TSLA
$400.62
(+3.01%)+$11.72
Ford Motor Company Stock Quote
Ford Motor Company
NYSE: F
$12.87
(+3.46%)+$0.43
General Motors Stock Quote
General Motors
NYSE: GM
$81.32
(+4.19%)+$3.27

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

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