How is Tesla stock doing?
Asked 7 hours ago
Answer
Tesla stock is currently under pressure following Elon Musk's announcement about forming a new political party. Investors are concerned that Musk's political ambitions could distract from his leadership at Tesla. Despite some positive news like increased sales in the UK and China, the market response has been negative, with the stock down 7% on the day discussed. Analysts emphasize that investors want Musk to focus on Tesla's core business, especially after recent deliveries came in just below estimates and there are uncertainties about regulatory credits.
References
Tesla shares, which had previously rallied, are now under pressure again due to Elon Musk's announcement about starting a new political party. Investors prefer Musk to focus on Tesla, especially after recent reports of him overseeing operations more closely in Europe and North America.
Despite positive news such as a 14% increase in UK sales and a 1% rise in China sales, Tesla shares are still under pressure. The company recently reported Q2 deliveries just below estimates, but analysts do not consider it a significant miss.
There is uncertainty about how much of Tesla's revenue from zero emission vehicle credits could be at risk due to changing regulations. The stock is down 7% on the day, and investors are questioning whether Musk is focused on Tesla or distracted by politics.