Why Tesla Shares Are Hitting The Brakes Today

Tesla Inc TSLA is trading lower Thursday. Weakness may be the result of multiple reports showing the company has removed the Cybertruck production date from its website, which has caused delay concerns.

The change on Tesla's website was first reported last week, but a series of reports flooded news feeds today, which seems to be negatively impacting Tesla shares. 

The Cybertruck page on Tesla's site currently says "You will be able to complete your configuration as production nears." However, it previously told buyers, as recently as last month, "You will be able to complete your configuration as production nears in 2022.”

The removal of "in 2022" from the on-site text is raising delay concerns. 

The Cybertruck was initially unveiled in 2019. At that time, Tesla announced that it expected the Cybertruck to roll off production lines at the end of 2021. Shortly after the Cybertruck was announced, Tesla delayed production to 2022. Now it seems the long-awaited electric truck has been delayed once again.

Investors shouldn't have to wait long for clarity. Tesla CEO Elon Musk said (last month) he would provide a "product roadmap update" on the company's upcoming earnings call. 

Product roadmap update on next earnings call

— Elon Musk (@elonmusk) December 3, 2021

Tesla is set to announce its fourth-quarter financial results after the market closes on Jan. 26. 

See Also: Why Virgin Galactic Shares Are Falling Today

TSLA Price Action: Tesla has traded as low as $539.49 and as high as $1,243.49 over a 52-week period.

The stock was down 4.13% at $1,060.50 at time of publication.

Photo: courtesy of Tesla.