Tesla's stock slumped 4% after slowing in China auto sales in March.
Tesla's stock sank 10.8% over the past four sessions, and a fifth straight loss would represent the longest losing streak since the seven-day loss streak that ended Dec. 27, 2022.The China Passenger Car Association said overnight that passenger cars sold in China in March rose 0.3% to 1.59 million, compared with 10.4% growth in February, according to a Dow Jones Newswires report.
Sales for the first quarter dropped 13.4% from a year ago, as January sales plunged 38%, the report said. Tesla recorded $18.15 billion in revenue from China in 2022, or 22.3% of total sales.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments