Why Tesla Stock Is Sliding Before Opening Bell Today

Shanthi Rexaline

April 15, 2024

Shares of electric-vehicle giant Tesla, Inc. (NASDAQ:TSLA) are down in premarket trading on Monday, despite positive major index futures that are firmly in the green.

What Happened: The premarket decline is particularly notable considering the broader market optimism.

Tesla’s pullback coincides with rumors of potential large-scale layoffs. An Electrek report suggests eliminations could reach up to 20% of the workforce, impacting tens of thousands of employees.

The upcoming quarterly results next week might underperform estimates, according to market sentiment following Tesla’s first-quarter delivery miss.

Additionally, the company recently halved the subscription price for its full self-driving software to $99 per month.

In premarket trading, Tesla shares fell 0.61% to $171.05, according to Benzinga Pro data.

See Also: Everything You Need To Know About Tesla Stock

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