Tesla closed down more than 11 percent, its lowest level since Oct. 14 last year

Source: Financial community

Tesla shares closed down 11.55 percent at $829.1 on Thursday, their lowest level since Oct. 14 last year. The company warned that supply chain restrictions would run through the year and said no new models would be introduced this year.

Tesla's previously released earnings report showed that the company's fourth-quarter revenue was $17.72 billion, up 65% year-on-year, better than expected at $16.57 billion; net profit attributable to common shareholders was $2.88 billion, an increase of about 219% year-on-year; diluted earnings per share were $2.54, better than expected of $2.36.

Meanwhile, Tesla warned that supply chain shortages that have led to declining sales at most other major automakers will also squeeze Tesla, and with supply chains becoming the main limiting factory, Tesla's own factories have been running below capacity for several consecutive quarters, which could continue into 2022.