Tesla stock slide 8% over supply-chain woes and new vehicle delays

Tesla stock slide 8% over supply-chain woes and new vehicle delays

Tesla, Inc. (TSLA) reported blowout fourth quarter results after market close on Wednesday, but Wall Street wasn’t sold on the company’s earnings beat.

Despite notching a quarterly profit and sales well above analyst estimates, shares of Tesla were down 8% in intraday trading Thursday after the electric vehicle maker admitted supply chain woes were likely to strain operations and halt new vehicle launches this year.

“Our own factories have been running below capacity for several quarters as supply chain became the main limiting factor, which is likely to continue through 2022,” Tesla said in a shareholder deck.