What's Going On With Tesla Stock?
Portfolio Pulse from Adam Eckert
Tesla Inc's shares are trading lower due to disappointing Q3 results, ongoing DOJ investigation, and increasing competition from Chinese EV makers. Tesla's Q3 production was lower than Q2, and the company missed analyst estimates. The DOJ is investigating Tesla over range advertising, personal benefits, and personnel decisions. Chinese competitor BYD reported an 82.2% YoY increase in profits and a 36.5% increase in revenues.
October 30, 2023 | 3:52 pm
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Tesla's stock is under pressure due to disappointing Q3 results, DOJ investigation, and increasing competition from Chinese EV makers. The stock is likely to continue its downward trend in the short term.
Tesla's disappointing Q3 results and the ongoing DOJ investigation are negative factors affecting the stock. Additionally, the increasing competition from Chinese EV makers, particularly BYD, is likely to put further pressure on Tesla's stock.
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