Why Tesla Stock Is Stuck in Reverse
Tesla (NASDAQ: TSLA) stock remained in reverse gear Thursday morning, rolling toward its third straight day of losses with the share price down 1.3% as of 11:20 a.m. EST.
Why? My fellow Fool and Tesla-watcher Daniel Sparks told you the first half of the story on Wednesday: A new report out of Morgan Stanley says that Ford's (NYSE: F) new Mustang-E is cutting into Tesla's electric vehicle market share in the U.S. -- it dropped by 12 percentage points in February.
The second part of this story dropped later Wednesday night. CNBC reported that Fiat Chrysler -- now part of Stellantis (NYSE: STLA) -- spent $362 million last year buying regulatory credits to offset the emissions of the cars it sells. Most of this money went to Tesla, which has credits aplenty to sell because the cars it manufactures don't emit carbon at all.
Source Fool.com
