It seems like after months of continuous growth, the Tesla stock has finally reached an important contraction of its stock. There are multiple reasons that people are citing for this strong fall of the stock.
The first and perhaps the most important is its fall from its possible inclusion in the S&P 500 index, an inclusion that would've driven the significance of the stock up.
It's still important to consider that year-to-date Tesla is still up 294% an absolutely astounding figure that shows the market's bullish expectation of the EV giant.
In other news, GM has taken a $2 billion stake in Tesla's competitor Nikola. Nikola is pushing to create the first Cybertruck competitor, and with GM's inclusion in its growth path, they will definitely be a force to be reckoned with.