The stock of Tesla Motors Inc. (TSLA) has fallen by more than 20% in the first three weeks of 2018, as the automaker’s first-quarter financial results come in for the first time.
The drop in stock prices follows a number of high-profile issues for the company.
In June, the company announced that it had agreed to buy SolarCity Corp. (SCTY), an electric car manufacturer that it purchased for $3.5 billion in 2014.
Tesla said at the time that the purchase would allow the company to compete in a new and rapidly growing segment, but investors and analysts have argued that the transaction would have only minimal impact on Tesla’s growth trajectory.
Tesla shares have since fallen roughly 13%.
Since then, the stock has lost nearly 40%.
In its first quarterly earnings report released on Wednesday, Tesla said that it expects its full-year profit to fall from $13.8 billion to $10.7 billion.
It added that its full year 2017 revenue is expected to be about $8.4 billion, or about 13% less than the year before.
The company’s third-quarter earnings report, however, showed that Tesla’s first quarter profit was $11.6 billion, up more than 70% from the same period last year.
Tesla’s earnings are a key driver of the company’s stock price.
The company’s shares have fallen by an average of more than 80% in 2017, and in 2018, Tesla shares lost more than 45%.
Tesla shares have also been on a tear this year, up about 80% year-over-year.
In 2017, Tesla stock closed at $6,923, down almost $10 from its July peak of $7,972.
Tesla stock has fallen more than 40% this year as well.
Tesla’s shares are up about 35% in 2018.
Tesla shares are also up in 2018 compared to 2017, thanks to the acquisition of SolarCity.
In the first quarter of 2018 alone, SolarCity’s market value dropped by nearly $500 million.
Tesla stock is up more compared to the rest of the industry, but it has also fallen in 2018 as a whole.
In 2018, its market value has declined by about $5 billion, and its share price has fallen nearly 25%.
Tesla’s share price is down more compared with the rest, thanks mainly to a decline in the company and its ability to grow its share count.
The market is seeing an increase in companies with lower revenues than Tesla.
Tesla is not the only company with a low-cost, electric vehicle.
Nissan Motor Co. NV is also struggling with declining sales.
Nissan’s shares dropped more than 25% in May, and they fell another 13% in June.
Nissan shares have dropped by almost 50% since April.
Tesla has also had problems with its pricing.
Last year, Tesla’s Model S was the cheapest electric car in the US, but in 2018 it was the most expensive electric car.
Tesla also has a reputation for selling the cheapest Model S on the market.
Tesla Model S car in New York, January 2017.
Source: Bloomberg/Car and Driver Tesla is currently offering a $1,000 discount for the Model S, which will come into effect starting Tuesday.
The discount will be good for buyers of the Model X SUV, which is Tesla’s premium crossover SUV.
Tesla has said that the discounts will be for the 2017-2018 model year, not the 2018 model year.
The Model X has a starting price of $70,000.
Tesla said at that time that it is still looking at the possibility of adding the 2018 Model X to its lineup.
The first-time buyers of a Model X can get a free Model S battery replacement if they replace the battery in January.
The car can be returned for an additional $3,500 if the battery needs to be replaced again in March, but that is not guaranteed.
In 2018, Musk said that if the Model 3 gets into production, it will cost about the same as the current Model S. The Tesla Model 3 is expected in 2019.