Tesla stock has dropped every day, falling more than 12%. Tesla’s large company layoffs, or about 10% of its 140,000-strong global workforce, disclosed on Monday, catalyzed the drop. Now investors are waiting to hear from CEO Elon Musk next Tuesday.
The past few months have been rough for Tesla investors as the electric vehicle maker stumbles its way out of an abysmal first-quarter that has sent shares tumbling and left analysts concerned.