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Tesla stock takes a dive when earnings announce ‘slower growth’
Tesla's fourth-quarter earnings were released on Wednesday after the closing bell. The results surprised Wall Street and sent shares down more than 5% in extended trade.
Longtime Tesla shareholder Ross Gerber criticized CEO Elon Musk’s leadership today and voiced worries about the company’s direction and dynamic pricing strategy during an interview on FOX Business’ “The Claman Countdown.” This month, Volvo and Tesla announced that they were ceasing some of their European production due to a shortage of parts resulting from shipping being rerouted away from the Red Sea and Suez Canal because of the threat posed by Iran-backed Houthi rebels in Yemen. As a result of a shortage of parts on ships that were routed around the southern tip of Africa or the Cape of Good Hope instead of the Red Sea and Suez Canal, Tesla notified Reuters that it would be suspending most car production at its Gigafactory near Berlin from January 29 to February 11.
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