Tesla shares fell nearly 10% Gross margin fell to 18.2% in the second quarter

Tech 2023-07-21 16:10:45 Source: Network

On Thursday, July 20th, after the US stock market closed, Tesla's stock price fell 9.74% to $262

On Thursday, July 20th, after the US stock market closed, Tesla's stock price fell 9.74% to $262.90 per share, setting the highest daily decline in three months.

According to Tesla's financial report data for the second quarter of 2023 released on July 20, the company's Gross margin in the second quarter was 18.2%, down from 19.3% in the first quarter of this year; The operating profit margin fell to 9.6%, marking the third consecutive quarter of decline.

At Tesla's second quarter financial report conference call, Musk said that he would focus on Product development and R&D investment to reduce costs and promote future growth. If the overall economic environment is unstable, he will continue to cut prices. This may have raised concerns among investors about the company's profit margin.

According to Reuters, analysts say that weak profit margins may put pressure on Tesla's stock price, but due to the company's increasing adoption rate of charging systems, its stock price has more than doubled this year. In addition, most people still hold a positive attitude towards Tesla, as more than seven analysts have raised their ratings on Tesla's stock due to their optimism about sustainable fuel cell technology.

Disclaimer: The content of this article is sourced from the internet. The copyright of the text, images, and other materials belongs to the original author. The platform reprints the materials for the purpose of conveying more information. The content of the article is for reference and learning only, and should not be used for commercial purposes. If it infringes on your legitimate rights and interests, please contact us promptly and we will handle it as soon as possible! We respect copyright and are committed to protecting it. Thank you for sharing.(Email:[email protected])

Mobile advertising space rental

Tag: fell Tesla shares nearly Gross margin to 18.2% in