TSLA is trading at $417.29 (-3.28%), extending losses amid a broader tech sell-off and news that the company will discontinue Model S and Model X production to pivot the Fremont factory toward Optimus humanoid robots.
- The decline aligns with a market rotation away from tech, following a 2.26% Nasdaq drop and a significant 11% decline in Microsoft shares due to AI spending concerns.
- Despite the sell-off, the company reported a positive Q4 earnings beat, with EPS topping estimates at $0.50.
- Energy margins showed strong performance, hitting 20.4% for the quarter.