Why Tesla Stock Continued Its Freefall Today
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Tesla's stock has dropped 5.3% today, continuing a decline of over 15% this year. The fall is attributed to CEO Elon Musk's distractions, including a bid to acquire OpenAI, and increasing competition from Chinese rival BYD, which has launched a new driver assistance system. Investors are concerned that Musk's focus on other ventures may hinder Tesla's performance, especially as it seeks regulatory approval for its own autonomous driving software. Despite potential opportunities, the stock's freefall persists.
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