As electric car sales slump, Tesla shares relinquish a year's worth of gains
CBSN
Tesla shares on Thursday dipped below $150 a piece, relinquishing a year's worth of gains as the automaker struggles with decelerating electric vehicle sales and mounting competition.
Continuing a dismal year for Tesla investors, the stock on Thursday fell $5.52, or 3.5%, to close at $149.93, leaving shares down more than 39% this year. The stock last traded at the $150 level in January 2023.
Tesla sales plummeted last quarter as competition increased and EV sales slow. The company said it delivered roughly 387,000 vehicles from January through March, undershooting analyst forecasts and nearly 9% below the 423,000 it sold in the year-ago period.
The pro-Palestinian demonstration that paralyzed Columbia University ended in dramatic fashion, with police carrying riot shields bursting into a building that protesters took over the previous night and making dozens of arrests. On the other side of the country, clashes broke out early Wednesday between dueling groups at the University of California, Los Angeles (UCLA). And police and protesters clashed at the University of Arizona's Tuscon campus, according to the Arizona Daily Star.