Why Tesla Stock Got Dented Today

·2 min read
Why Tesla Stock Got Dented Today

It's Monday, and with the Dow, S&P 500, and Nasdaq all down fractions of a percent, it seems stock markets are going into the red again today -- and so is Tesla (NASDAQ: TSLA). As of 11:10 a.m. ET, Tesla shares have fallen 4.2% on reports that COVID-19-related lockdowns in China have dented the company's (still impressive) market share in electric vehicles (EVs) -- and that the situation won't be immediately fixed. Tesla remains "dominant" in EVs, reports TheFly.com today, retaining a 20% market share, but competition is heating up and the company lost market share to new rivals in 2021.

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