Elon Musk just brought the whole EV area down with these comments
In the wake of avoiding Tesla's second from last quarter call, he got back to the call Wednesday to examine final quarter's record profit and income. Yet, his remarks on the current week's telephone call frightened financial backers in spite of Tesla's effective monetary outcomes. Tesla (TSLA) shares had their most exceedingly awful day in months on Thursday, losing 11.6% and bringing the other EV stocks down alongside it. Musk zeroed in his remarks on inventory network gives that had harmed Tesla definitely not exactly different automakers. Despite the fact that Musk said Tesla was on way to be "easily above half development in 2022," and that the chip lack is "better than last year," he likewise noticed the production network issue is "still an issue that could slow the rollout of new vehicles that had been normal when this year. He said plans for its Cybertruck, Tesla's first pickup, would be pushed back to somewhere around 2023, alongside another Roadster and a semi truck. He said he trusts Tesla will be "prepared to carry those to creation ideally one year from now. That is the best bet."