Tesla Set To Extend 3-Day Losing Streak? What's Driving Shares Lower Premarket
Portfolio Pulse from Shanthi Rexaline
Tesla shares are falling in premarket trading following three consecutive sessions of losses. Concerns over potential shortfalls in third-quarter deliveries and softness in the Chinese market are contributing to the negative sentiment. Rumors about a production pause at the Giga Texas plant until the end of September are also circulating. Gary Black from Future Fund predicts third-quarter deliveries of 440,000 units, below the consensus estimate of 462,000 units. In premarket trading, Tesla fell 1.49% to $241.23.
September 25, 2023 | 12:06 pm
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Tesla's stock is falling due to concerns over potential shortfalls in Q3 deliveries, softness in the Chinese market, and rumors of a production pause at the Giga Texas plant.
The negative sentiment surrounding Tesla's stock is driven by concerns over potential shortfalls in Q3 deliveries and softness in the Chinese market. Rumors about a production pause at the Giga Texas plant until the end of September are also contributing to the stock's decline. These factors are likely to negatively impact Tesla's stock in the short term.
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