Tesla Inc. is on pace for its worst annual stock performance on record as investors bristle at Elon Musk’s Twitter Inc. ownership, as well as declining demand for the car company’s electric vehicles and slumps in the broader market in a higher interest rate environment.
Tesla’s share slide marks a sharp reversal for the world’s most valuable car company. The electric-vehicle maker had been one of the auto industry’s biggest winners during the early 2020s, a period plagued by chip shortages, snarled global supply chains and shutdowns related to Covid-19.
