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

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


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