Tesla’s Fourth Quarter Financial Report Underperforms, Bleak Outlook for 2024, Stock Price Falls Below $200.
Tesla announced its fourth-quarter financial report after the market closed yesterday. Due to the reduction in prices and promotional activities, the gross margin for the fourth quarter of 2023 dropped to 17.6%, the lowest since 2019. At the same time, the company also warned that the growth rate of electric vehicles in 2024 may be significantly lower than that in 2023. Tesla’s stock price fell nearly 6% after hours, once again falling below the $200 mark.
