Tesla Shares Head for Worst Year Ever as Elon Musk Focuses on Twitter

Tesla Inc. is on tempo for its worst annual inventory efficiency on report as investors bristle at Elon Musk’s Twitter Inc. possession, in addition to declining demand for the automotive firm’s electrical autos and slumps within the broader market in a higher interest rate environment.

Tesla’s share slide marks a pointy reversal for the world’s most valuable car company. The electrical-vehicle maker had been one of many auto business’s greatest winners through the early 2020s, a interval affected by chip shortages, snarled world provide chains and shutdowns associated to Covid-19.