Tesla shares tumble after company misses delivery target
Shares of Tesla tumbled more than 12% Tuesday, the first full day of trading since the company announced 2022 delivery numbers that fell short of targets DETROIT -- Shares of Tesla tumbled more than 12% Tuesday on the first full day of trading since the company announced 2022 delivery numbers that fell short of target s. The electric vehicle and solar panel maker's stock closed at $108.10, and it's down just under 70% since the start of last year. The stock hit its lowest point since August of 2020, and Tesla's market value, according to FactSet, slid to $341 billion, down from over $1 trillion as recently as April. Tesla said Monday that it sold a record 1.3 million vehicles last year, but the number fell short of CEO Elon Musk’s pledge to grow deliveries by 50% nearly every year. The 2022 figure topped the prior record of 936,000 vehicles delivered in 2021, but it was shy of the 1.4 million needed to reach the company’s 50% growth target. Sales grew 40% year o...