Why Tesla Stock Is Skidding Premarket Today
Portfolio Pulse from Shanthi Rexaline
Tesla, Inc. (NASDAQ:TSLA) stock is facing headwinds in premarket trading due to geopolitical tensions and concerns over the Israel-Hamas conflict potentially disrupting oil supplies. The company's stock is also affected by a decrease in China sales and concerns over price cuts and delays in the launch of the Cybertruck. In premarket trading, Tesla declined by 1.65%, trading at $256.22.
October 09, 2023 | 11:07 am
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POSITIVE IMPACT
BYD, backed by Warren Buffett, reported a remarkable year-over-year increase of over 59% in battery EV sales for the same month.
The increase in battery EV sales for BYD is a positive sign for the company and could potentially lead to an increase in its stock price.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Tesla's stock is facing headwinds due to geopolitical tensions and concerns over sales in China. The stock declined by 1.65% in premarket trading.
The geopolitical tensions and concerns over the Israel-Hamas conflict potentially disrupting oil supplies are causing a negative impact on Tesla's stock. Additionally, the decrease in China sales and concerns over price cuts and delays in the launch of the Cybertruck are also affecting the stock negatively.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100