The slide in Tesla shares comes after Democrats announced a new policy proposal that would increase taxes on Tesla. The proposed taxes would apply to all Tesla vehicles, as well as their parts, services and charging points.
The Democrats had been considering these taxes for some time, but they decided to make the announcement ahead of Tesla’s upcoming earnings report. This led many analysts to believe that the Democrats had premeditated the timing of their announcement, so that they could have an impact on Tesla’s stock price ahead of its earnings report.
The taxes are expected to add an additional cost burden to Tesla, which would make it more difficult for the company to turn a profit. This could lead to further pressure on Tesla’s stock price, as investors fear that the company’s profitability could be negatively impacted by the taxes.
Many investors are also questioning the timing of the announcement, as it appears to be an attempt to manipulate Tesla’s stock price ahead of the earnings report. It remains to be seen whether the Democrats will be able to push through the proposed taxes, but if they do, it could have a significant impact on Tesla’s stock price.
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