Tesla Stock Set To Extend Slide For 4th Day? What's Dragging It
Portfolio Pulse from Shanthi Rexaline
Tesla, Inc. (NASDAQ:TSLA) shares fell sharply in premarket trading on Wednesday, extending a slide for the fourth day. The company recently announced a 6.9% reduction in prices for inventory Model S and X vehicles in China, which is typically seen as a signal of a slowdown in demand. Future Fund's Gary Black commented that the price cuts reflect short-term thinking by Tesla China and suggested investing in advertising to build long-term brand equity.
August 16, 2023 | 11:46 am
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Tesla's stock price fell sharply following the announcement of a 6.9% price reduction for Model S and X vehicles in China. This move is seen as a signal of a slowdown in demand and reflects short-term thinking by Tesla China.
Price cuts are typically seen as a signal of a slowdown in demand, which can negatively impact investor sentiment and lead to a drop in stock price. In this case, Tesla's decision to reduce prices for its Model S and X vehicles in China has led to a sharp fall in its stock price.
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