Tesla stock slides as Musk’s $20 billion spending push puts cash in the spotlight
Tesla shares fell 2.2% to $421.80 Thursday after the company reported Q4 revenue of $24.9 billion, down 3% from a year ago, and net income of $840 million. Tesla said it will more than double capital spending to over $20 billion in 2026, focusing on robotaxis, robotics, and battery output. Production of the Model S and X will end. The company lost its global EV sales lead to BYD.