Tesla's Stock Tumbles as Wall Street Sours on Elon Musk's Strategy

Tesla's corporate directors are standing by CEO Elon Musk despite a series of challenges including a massive delivery miss, layoffs, and a sinking stock price. The company's stock has fallen over 35% this year, and Musk's divided attention between Tesla, SpaceX, and xAI has raised concerns. Competition in the electric vehicle market is increasing, and the company's long-anticipated entry-level vehicle has been scrapped in favor of focusing on self-driving robotaxis. Analysts are calling for a clear growth strategy and realistic goals from Musk, as the company faces pressure to detail its next phase at the upcoming shareholder meeting.