Why Tesla Stock Is Plummeting Today

Shares of Tesla (NASDAQ: TSLA) are trading lower on Tuesday. The company's stock had lost 7.5% as of 10:30 a.m. ET and as much as 8% earlier in the day. The drop comes as the S&P 500 lost 1.9%, and the Nasdaq Composite lost 2%.The electric vehicle (EV) pioneer is seeing its sales in the critical Chinese market drop significantly.Preliminary data from China's Passenger Car Association showed a precipitous drop in shipments from Tesla's factory in Shanghai for the month of February. The company delivered just 30,688 vehicles, down 49% year over year from last February's 60,172 vehicles. The figure is also down month over month with Tesla shipping 63,238 vehicles in January.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool