
Tesla Stock Slides Amid Broad Renewable Energy Sell-Off: What's Going On?

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Tesla Inc shares are down 3.81% amid a broader sell-off in renewable energy stocks, driven by proposed changes to U.S. tax incentives. The Senate Finance Committee's draft bill suggests phasing out solar and wind energy tax credits by 2028, which could adversely affect Tesla's energy division. Additionally, potential elimination of the $7,500 EV tax credit raises concerns for Tesla's automotive business. Analysts note that while brand loyalty may mitigate some impacts, the overall reduction in incentives poses challenges for Tesla's growth in both sectors.
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