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Stockreport

4 reasons why Tesla's 53% stock crash is accelerating today [Business Insider]

Tesla, Inc. (TSLA)  More Company Research Source: Business Insider
Last tesla, inc. earnings: 4/29 04:11 pm Check Earnings Report
US:NASDAQ Investor Relations: ir.tesla.com
There were two new reasons for continued Tesla selling, and two evergreen issues weighing on shares. Tesla investors are having another rocky day , with shares down as much as 7%. The stock is heading for an eighth straight weekly loss, and now sits 53% below all-time highs reached in mid-December. As each day passes, the list of headwinds facing the EV maker seems to grow. In addition to existing pressures, Tuesday saw Tesla investors face fresh competition from China and an analyst price-target cut. Detailed below are the four forces — two new, two evergreen — driving the acceleration in Tesla's share-price decline. 1. BYD's new battery tech Chinese firm BYD unveiled an EV-charging station that it claims can deliver up to 400 kilometers of driving after just five minutes of charging . This would be a big step up from current charging technology, with Tesla's quickest version providing a 275-kilometer range after 15 minutes of charging. The development creates another [Read more]
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