Why Shares of Tesla Are Sinking Today
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Shares of Tesla (TSLA) fell approximately 3.3% today, continuing a downward trend due to struggling sales in Europe and a significant drop in deliveries, with only 337,000 reported in Q1, the lowest in over two years. Analysts noted a 36% year-over-year decline in new Tesla sales in Spain and a 17% decrease over the first four months of the year. Despite a hold rating from Jefferies, much depends on the upcoming June Robotaxi demonstration, which could impact investor sentiment amid concerns over the company's high valuation and core EV business struggles.
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