Tesla (TSLA) Cybertruck Recall Is Latest Setback to Stock’s Rough 2024

Elon Musk’s underlings at Tesla Inc. are accustomed to chaos. It comes with the territory of working for a chief executive who sets exacting targets and often abruptly switches directions — whose biographer describes his more intense moods as “demon mode.”

But even by Tesla standards, this year has been unruly. Its stock has slid more than 40% amid slumping sales, confusing product decisions and more price cuts. Its once-dominant position in China’s EV market is under assault. A visit with India’s Prime Minister Narendra Modi for an anticipated investment announcement was called off at the last minute. All the while, the board has tried to revive a $56 billion payout to Musk that a judge voided in January, on the grounds that directors had acted as “supine servants” to the CEO.