Stock Market Today, Sept. 25: Tesla Stock Under Pressure Despite Plans to Ramp Semi Truck Production
Tesla (NASDAQ:TSLA), the global electric-vehicle, battery storage, and autonomous driving systems company, closed at $372.11, down 1.54%. Analyst cuts overshadowed plans for Tesla's Semi Truck production ramp. Trading volume reached 44.5 million shares, coming in nearly 14% above
On September 25, Tesla's stock saw a downturn despite preparations for a significant ramp-up in Semi Truck production. The company's stock closed at $372.11, marking a 1.54% decrease. Analysts' cuts seemed to overshadow the launch event for Tesla's Semi heavy truck, which began mass production in Nevada. Trading volume surged to 44.5 million shares, notably 14% higher than the three-month average of 39.1 million shares.
Tesla's IPO in 2010 has seen its stock soar 23,303% since going public. In comparison, the S&P 500 closed at 7,743.41, up 0.51%, while the Nasdaq Composite reached 27,068.72, gaining 0.48%.
Rivian Automotive and General Motors, fellow electric vehicle and energy storage manufacturers, reported positive stock movements. Rivian's stock rose 1.18% to $15.47, while GM's stock climbed 2.56% to $82.63, indicating stronger trading in the sector. Tesla's CEO, Elon Musk, highlighted the Semi's potential advantage due to its per-mile electricity costs and an impressive range of 500 miles on a single charge, fully loaded.
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