Tesla Stock Trades Below $700 As Global Carmakers Face Inflation Reckoning

Updated at 1:58 pm EST

Tesla  (TSLA) – Get Tesla Inc Report shares slumped below the $700 mark for the first time in more than eight months Thursday as investors continue to worry about near-term profit prospects for global carmakers amid a surge in input costs and the ongoing semiconductor shortage. The stock later recovered some to end the day down $6, at $728.

Nissan Motor Co  (NSANY)  cautioned Thursday that operating profits for its 2023 fiscal year, which ends next March, will likely be flat to the prior period thanks in part to what it called an “uncertain situation” in global supply chains exacerbated by China’s ongoing Covid lockdowns. 

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