Tesla Faces Deepening Crisis as Stock Plummets and Layoffs Mount

Tesla's stock continues its sharp decline amid widespread layoffs and strategic shifts, signaling a challenging period for the EV giant.

Tesla's stock has fallen significantly in 2024, with a notable drop of 4% on Tuesday, reaching a near 12-month low.
Elon Musk announced a reduction of over 10% of Tesla's workforce globally, affecting thousands of employees across multiple regions.
Reports confirm the cancellation of the affordable Model 2 EV, as Tesla shifts focus to its Robotaxi project.
Tesla's market value has decreased from $790 billion to below $500 billion this year, amidst poor quarterly delivery growth and increasing competition.
Legal challenges and leadership changes add to the company's woes, with high-profile executives departing and ongoing lawsuits.