Tesla Cars Banned From World University Games Prior To Visit From Chinese President Xi Jinping
https://www.zerohedge.com/geopolitical/ ... -president
TSLA remains the top EV seller in the United States.
During the year's first half, TSLA sold 336,892 vehicles, nearly 300,000 units higher than the second-largest EV seller.
The proposed class action lawsuit accuses the company of falsely advertising the driving ranges of its electric vehicles.
The lawsuit alleges that TSLA “marketed its electric vehicles as having a grossly overvalued range in an effort to increase sales to consumers.”
Earlier this year, TSLA was fined ₩2.85 billion ($2.13 million) by South Korean regulators as they found that their cars delivered as little as half their advertised range in cold weather. The Korea Fair Trade Commission (KFTC) found that TSLA cars driving range plunged in cold weather by up to 50.5% versus how they were advertised online.
Bottom-line strategy: Traders should take a neutral stance on TSLA for now but the risks for further weakness are growing. Traders who are long should either nail down profits and/or tighten stops.
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