Why Tesla stocks are lacking today

Tesla (tsla -2.97%)) The recent stock is in recovery mode. After the year -end decrease for one month, stocks surged more than 40% last month. Elon Musk, CEO of ELON Musk, plans to spend more time by an electric vehicle (EV) manufacturer and will spend his role in DC Washington.

However, as many investors turn their focus into the EV business themselves, stocks are plunging today. And the number doesn’t look promising. Stocks fell by almost 5% on Monday morning and 3.3% lower at 11:35 am.

Image Source: Tesla.

Tesla sales are not rebounded

All eyes are now in Tesla’s EV sales data, especially China’s sales data. Tesla provided 13 percent of EVs in the first quarter, but the strength of the stock pointed out why it was a good reason for the decline. Telsa was finishing refreshing the best -selling model Y, and many investors believed that they would promote sales push once they were completed. China is one of the main markets that investors can see.

However, in the second quarter, it did not begin well for the sale of Tesla in the global EV market. Wall Street analysts followed the registration data that sales of China plunged by 26% in April and the first half of May. Barun I reported on the weekend. This indicates a sharp decrease in China’s sales in the first quarter.

The latest data should be announced by the China Cardenger Car Association (CPCA), and investors can sell stocks in anticipation of worse sales results. As sales plummeted in many European markets, the Chinese market is becoming more important to Tesla.

If the main processing time is not displayed in the next report of the CPCA, there is a possibility that Tesla stocks will continue to decrease today.