Why Tesla Shares Dropped Today
Shareholders of Tesla (NASDAQ: TSLA) have had their ups and downs recently. Today has been another example of that, with the stock as much as 2.3% above Monday's close before dropping 2.5% earlier in today's session. As of 12:33 p.m. ET on Tuesday, shares were down a modest 0.25%.
There are so many different things pulling on Tesla stock, its short-term movements can be explained by various news items. But the status of two of its factories is the biggest concern for investors focusing on the business.
Much of the headlines are about CEO Elon Musk and the drama related to his efforts to back out of the $44 billion purchase of Twitter. Indeed, with a complex lawsuit against him seemingly imminent, that will be a distraction for Tesla's leader. But problems at its Berlin Gigafactory and more potential COVID-19 impacts at its Shanghai plant are weighing on the stock right now, too.
Source Fool.com
