Tesla stock suffers double-digit drop on carmaker’s worst day in years

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Guardian Business

Tesla stock suffers double-digit drop on carmaker’s worst day in years

Elon Musk’s EV company lost a quarter of its value after revealing weak profits and high spending on AI and robotics Tesla’s stock fell about 13.5% on Thursday in one of the biggest single-day market losses in the company’s history. Elon Musk’s automaker has struggled throughout the year, losing about 27% of its market value as huge capital expenditures and weaker-than-expected profits worry investors. Continue read…