Why Is Tesla Underperforming The Market?
In this video, I will be talking about Tesla's (NASDAQ: TSLA) China sales numbers for June, the recent Tesla FUD, and why Tesla stock is underperforming the market. Tesla shares are down 10% year to date while the NASDAQ Composite (NASDAQINDEX: ^IXIC) is up 14% and the S&P 500 (SNPINDEX: ^GSPC) is up 16%.
In the second quarter, Tesla produced 206,421 vehicles and delivered 201,250, up 121% year over year, making that its best quarter of deliveries ever. This week, according to the China Passenger Car Association, Tesla sold 33,155 China-made vehicles, including those for export. Domestic sales in China improved, with Tesla selling 28,138 China-made cars in June, up from 21,936 the previous month.
So why isn't the market acting accordingly?
Source Fool.com
