Tesla ‘nightmare’ to get worse as Elon Musk warned ‘darker days ahead’

Tesla’s “nightmare” in the first quarter of 2024 will continue as experts warn that there are “darker days ahead.”
The company’s stocks dropped 30 percent in the first three months of this year, sparking questions about the leadership of CEO Elon Musk.
Tesla is facing increased competition in China, having a big effect on the company’s sales.
This comes after Tesla admitted in its 2023 fourth-quarter report that its “vehicle volume growth rate may be notably lower than the growth rate achieved in 2023.”
Wedbush analyst Dan Ives, a Tesla backer in the past, cut his price target from $315 per share to $300 per share as he laments Tesla’s “nightmare.”
READ MORE: Tesla and Elon Musk in peril as China sales dip and stocks slide 30% in Q1
He added: “Tesla narrative is as negative as we have seen in the last few years.
“For Musk this is a fork in the road time to get Tesla through this turbulent period otherwise darker days could be ahead.”
Musk has also announced more changes at X as the social media company faces continued problems following its rebrand from Twitter.
He announced in a post that all X accounts with more than 2,500 verified subscriber followers would be able to access features that usually cost $8 monthly.
These features include the ability to edit posts and use more characters.
This comes as X denies that the number of people logging on to X has plummeted.
Research by data firm Sensor Tower found that daily users of the X mobile app fell to 174 million in February, down 15 percent from a year earlier.
Sensor Tower senior analyst Abe Yousef said.”This decline in X mobile app active users may have been driven by user frustration over flagrant content, general platform technical issues, and the growing threat of short-form video platforms.”
A spokesperson for X described the research figures as “inaccurate”, adding: “Both our own data and self-reported data from other platforms tells a different story.”