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Tesla Fell Today -- Is the Stock a buy Right Now?
Tesla (NASDAQ: TSLA) stock lost ground Wednesday amid a wild day of trading that saw the market sell off on first-quarter gross domestic product (GDP) data and then rebound following an indication that trade negotiations between the U.S. and China are underway. The company's share price fell 3.4% in the daily session and had been off as much as 7.4% earlier in trading.Despite the S&P 500 bouncing back from a big pullback and closing the day out up 0.1%, Tesla stock fell as investors concentrated on weaker-than-anticipated Q1 GDP performance. Due to a surge in imports ahead of tariffs implemented by the Trump administration at the beginning of this month, GDP fell 0.3% in Q1 -- missing economists' forecast for growth of 0.4%.Imports are subtracted from GDP, and the surge in purchases for foreign products caused a contraction for the measure of economic performance. Continue reading
Tesla (NASDAQ: TSLA) stock lost ground Wednesday amid a wild day of trading that saw the market sell off on first-quarter gross domestic product (GDP) data and then rebound following an indication that trade negotiations between the U.S. and China are underway. The company's share price fell 3.4% in the daily session and had been off as much as 7.4% earlier in trading.
Despite the S&P 500 bouncing back from a big pullback and closing the day out up 0.1%, Tesla stock fell as investors concentrated on weaker-than-anticipated Q1 GDP performance. Due to a surge in imports ahead of tariffs implemented by the Trump administration at the beginning of this month, GDP fell 0.3% in Q1 -- missing economists' forecast for growth of 0.4%.
Imports are subtracted from GDP, and the surge in purchases for foreign products caused a contraction for the measure of economic performance.
