Why Tesla Stock Stumbled on Thursday
Shares of Tesla (NASDAQ: TSLA) stock slipped 2% by 10 a.m. EDT on the Nasdaq Stock Exchange Thursday, on a good news, bad news kind of a day for the electric vehicle manufacturer.
Let's start with the good news: As Barron's reports this morning, Tesla shipped 33,000 EVs from its factory in China in the month of June, the second most deliveries of all EV makers (BYD was No. 1), and its total production in the country was 92,000 cars -- 30% of all Teslas sold globally in the second quarter.
Given that last year, China accounted for only 21% of the company's global sales, Tesla is growing in the world's biggest market for EV cars -- and that's good news for the company.
Source Fool.com
