🚀 Tesla suffers poor Q1

Market Overview
Read time 1.4 minutes

Year To Date Performances:

1. Tesla's first quarter of 2024 saw a 20% drop in vehicle deliveries compared to the final quarter of 2023, marking the first year-over-year sales decline in three years. The electric vehicle maker delivered 386,810 vehicles, down from 484,507 in the previous quarter. Production also decreased due to an arson attack at Tesla's factory in Germany and shipping disruptions in the Red Sea. These challenges come as Tesla transitions to manufacturing the new Model 3 and faces increased competition in China from a surge of low-cost EVs. Despite efforts to boost sales, including a one-month trial of its Full Self-Driving software and a price increase announcement, Tesla's stock fell by over 6% early in the quarter.

2. Yahoo has announced its acquisition of Artifact, an AI-powered news app created by Instagram co-founders Kevin Systrom and Mike Krieger. Artifact, set to be integrated across Yahoo platforms, including the Yahoo News app, will cease to function as an independent application. This move comes after Artifact hinted at shutting down due to a limited market opportunity. The app, known for personalizing content to align with users' interests, will enhance Yahoo's capacity for content personalization and user engagement. Systrom and Krieger will serve in an advisory role during the transition, supporting Yahoo's mission to connect people with relevant content and trusted news sources.

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4. Headlines

   1. Microsoft has unbundled Teams from Office, meaning you can now purchase Teams without needing the entire Office package.

   2. United Airlines is expecting a decline in service due to delayed aircraft deliveries.

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