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Tesla: Reasons for the shares’ dismal run this year — down 28% compared to a 10% advance in the S&P 500 Index — are many. However, the biggest cloud looming over the EV giant is the slowdown in the demand for electric vehicles, which is happening just as competition from legacy carmakers and Chinese rivals is heating up.
(Bloomberg) -- Tesla Inc. shares have shown signs of life in recent days after this year’s extreme slide, but investors lack the clarity needed to bet on any lasting recovery. Most Read from BloombergLondon Insurers Face Baltimore Bridge Payouts Worth BillionsBiden Gains Ground Against Trump in Six Key States, Poll ShowsJapan Amps Up Intervention Threat as Yen Hits Lowest Since 1990China Property Crisis Is Rippling Through Its Biggest BanksDubai Is Losing Its Allure for Wealthy RussiansThe elect
Reasons for the shares dismal run this year — down 28% compared to a 10% advance in the S&P 500 Index — are many. However, the biggest cloud looming over the EV giant is the slowdown in the demand for electric vehicles, which is happening just as competition from legacy carmakers and Chinese rivals is heating up.
The EV maker is due to provide its first-quarter delivery numbers early next week
(Bloomberg) -- There was a time when the backing of some of the world’s deepest pockets and the mere ambition to sell electric cars was enough to inspire confidence in the stocks of upstarts Rivian Automotive Inc. and Lucid Group Inc. Now investors have all but thrown in the towel on the shares.Most Read from BloombergBuffett Says ‘Eye-Popping’ Results Unlikely With Record CashBezos, Nvidia Join OpenAI in Funding Humanoid Robot StartupUS Unveils Biggest Sanctions Package on Russia Since War Bega