Tesla Motors Inc Stock Rings In The New Year With A Nosedive

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Tesla Motors Inc Stock Rings In The New Year With A Nosedive
Blomst / Pixabay

It’s the first trading day of the New Year, and Tesla Motors stock is tanking. Shares declined by as much as 7.48% to $222.05 per share in afternoon trades after the automaker released the shipment number for the full year and the fourth quarter. It did manage to meet the guidance of between 50,000 and 52,000 vehicles, but just barely.

Tesla shipped 50,580 vehicles in 2015

Tesla originally said it would ship between 50,000 and 55,000 vehicles during 2015 but later revised that outlook down to a range of 50,000 to 52,000. Clearly Wall Street was disappointed when the automaker said that it shipped 50,580 vehicles in all of 2015 as its stock witnessed its biggest one-day fall since Aug. 6. Investors have had high expectations for the EV manufacturer after CEO Elon Musk demonstrated strong execution that once sm