Tesla's Stock Takes a Hit

In a surprising turn of events, Tesla's shares took a significant dive, dropping more than 7% this Thursday. This sharp decline came on the heels of the company's announcement that it had fallen short of its fourth-quarter delivery targets for 2024.

Behind the Numbers

The electric vehicle giant reported delivering 495,570 vehicles in the last quarter, missing the mark on the anticipated 500,000 units. This shortfall contributed to a noticeable dip in annual deliveries, which totaled 1,789,226 vehicles for the year.

As of 9:37 am ET, Tesla Inc. shares were trading at $374.93, reflecting the market's reaction to the news.