Why Tesla Stock Is Sinking Today
Shares of (NASDAQ: TSLA) are falling on Wednesday. The electric vehicle maker's stock lost 3.8% as of 3:30 p.m. ET and was down as much as 5.4% earlier in the day. The steep decline comes as the S 500 and Nasdaq Composite indexes lost 0.6% and 1.3%, respectively.
The EV leader is facing new headwinds as international trade tensions escalate into direct action against the company.
Canada announced it has frozen $43 million in suspicious EV rebates for Tesla vehicles and will investigate each claim to verify their legitimacy. The announcement comes after the EV maker submitted thousands of claims in the days before the rebate program ended, the equivalent of selling two cars every minute, 24 hours a day.
Source Fool.com
Tesla Inc Stock
€345.80
0.790%
Currently there is a rather positive sentiment for Tesla Inc with 108 Buy predictions and 45 Sell predictions.
As a result the target price of 397 € shows a slightly positive potential of 14.81% compared to the current price of 345.8 € for Tesla Inc.
