People are clueless. $BYD Co., Ltd.(BYDDY)$ beating $Tesla Motors(TSLA)$ has to do with macros, plus they sell mostly hybrids...
You do realize how long BYD and Telsa have been competing right? They made their first EV back in 2009 and suddenly they are beating Tesla since macro issues started? I dare people to put 2 and 2 together.
The only thing Tesla failed to do was make the cheaper car...jic bad macros happened. Other than that I say wait for macros to improve and see who sells what.
Right now people don't have tons of cash to spend anywhere. Interest rates are literally about 10 percent even with good credit.
Competitors are making a more compelling EV, and now increasing US EV marketshare beyond Tesla’s. And Musk and Tesla had years to design new models to stay ahead, but never did.
What’s more, another news. Cathie Wood discloses she is blowing out of her TSLA position due to the tax credit change. She has sold 70k shares this week and close to a million shares since the beginning of summer.
The growth story here is over and sell while the price is still over $200
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