Tesla stock plummets to 5-month low, down 18% since Q3 earnings report.

Tesla stock dropped 4.8% and closed below $200, reaching a 5-month low, despite a broader market rally. Two factors contributed to the decline: Panasonic, Tesla's battery supplier, cut automotive battery production in Japan and lowered its profit forecast due to a global slowdown in EV sales; and chipmaker ON Semiconductor reported weaker-than-expected profit and revenue guidance, potentially indicating a drop in silicon carbide demand used in Tesla's EV powertrain. Tesla shares are down 22% in the past month but still up 60% for the year.