Tesla stock is at its lowest in more than two years
Monday’s market jitters brought Tesla Inc. shares to their lowest since January 2017, with trade-war fears striking at the heart of the auto maker’s China expansion plans.
Nelson also cited a Monday analysis in The Wall Street Journal that argued Tesla was about to run out of cash even after recently tapping the markets. That “really spooked investors,” he said.Auto sales data in China, a key market and growth driver for Tesla, furthered such concerns.Paired with “steady negative” growth in Europe and lower U.S. sales, “global production is tracking significantly weaker than many realize,” they said in a note Monday.
Tesla shares have lost 24% in the past 12 months, versus gains around 2% for the S&P 500 index SPX, -2.43%
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