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

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

NASDAQ: TSLA

Tesla

Market Cap

$585B

Today's Change

(-5.55%) -$10.77

Current Price

$183.28

Price as of April 30, 2024, 4:00 p.m. ET

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

Tesla (TSLA -5.55%) 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.

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.