![]() ![]() is proving a liability for Tesla by limiting his involvement in the company. What’s more, shareholders are growing increasingly wary that Musk’s takeover of Twitter Inc. X generated 4.4 billion revenue in 2022, an 11 decline year-on-year.6 The company generated the vast majority of its revenue (90) through advertising. With today’s drop, the stock market’s recent correction has grown some threatening thorns. Demand in China isn’t meeting expectations, forcing the company to scale back production and slow hiring. Indeed, the S&P 500 and Nasdaq Composite closed down by 1.3 and 1.8 on Thursday. The automaker’s shares face stiff headwinds heading into the new year, market watchers say. The company’s market value fell below $500 billion for the first time since November 2020 on Dec. While that’s still well above the S&P 500 Index’s 17 times forecast earnings, it’s the lowest since the company went public in 2010. The stock is now trading at 29 times projected earnings, according to data compiled by Bloomberg. shares are trading at their cheapest ever by at least one measure as the electric vehicle giant grapples with an array of challenges, from waning demand in China to investor concern over billionaire CEO Elon Musk’s priorities. On April 14, 2022, Elon Musk disclosed with a 13D/A filing that he is proposing to acquire all of the shares in TWTR at a offer price of 54.20. vehicles in a parking lot after arriving at a port in Yokohama, Japan. ![]()
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