Tesla, Inc. (TSLA)

$219.80 0.45 (0.20%)
16:00 EDT TSLA Stock Quote Delayed 30 Minutes

Why All the Jobs Cuts Are Actually Good for Tesla Stock

Cutting jobs is part of Tesla's long-term strategy to democratize the EV market, and that means job cuts are actually good for Tesla stock.

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Previous Close -
Market Cap 696.66B
PE Ratio 61.74
EPS 3.56
Volume (Avg. Vol.) 93.03M
Day's Range $215.33 - $222.28
52-Week Range $141.11 - $278.98
Dividend & Yield N/A (N/A)

Engineers Martin Eberhard and Marc Tarpenning founded Tesla in 2003 before turning the company over to current CEO Elon Musk. Tesla produced its first electric vehicle (EV), the Roadster, in 2008. Since then, the company has gone on to define the EV industry and reach a market capitalization above $500 billion. Current models include the new Cybertruck, Model S, Model 3, Model X and Model Y. Tesla also has its hands in related efforts like battery development, vehicle charging, solar energy and self-driving technology. Investors often consider Tesla to be a company straddling the line between the automotive and technology industries, given its futuristic pursuits.