June 7, 2023

Tesla stock in danger of first loss in eight sessions

MARKET PULSE

Shares of Tesla Inc. slipped 0.2% in premarket trading Tuesday, putting them in danger of suffering their first loss in eight trading session. The electric vehicle maker’s stock had charged up 19.0% over the past seven sessions to close Monday at the highest price since Nov. 1, 2022. That was the longest win streak since the stock rose for eight-straight days to Feb. 9. Among others in the EV space, shares of Rivian Automotive Inc. fell 0.5% premarket and of Lucid Group Inc. lost 0.8%, while Nikola Corp.’s stock edged up 0.5%. Among Tesla’s China-based rivals, Nio Inc.’s stock rose 0.5%, Xpeng Inc.’s gained 1.2% and Li Auto Inc.’s climbed 2.0%. The stock moves come as futures for the S&P 500 slipped 0.1%.

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