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Tesla (TSLA) shares opened lower this week, part of a broader market decline triggered by Moody's downgrade of the U.S. credit rating after Friday's close.![]()
Editor: Guo Mingyu
- Moody'sAfter the downgrade of the US credit rating,TeslaThe stock price fell along with the broader market on Monday afternoon.
- Thanks to positive trade news, the electric vehicle manufacturer's stock price has risen for four consecutive weeks.
- Encouraging trade news overshadowed negative news such as Tesla's disappointing sales and registration data in Europe and China.
Several other large tech stocks that performed strongly last week also fell in early-week trading.
Monday’s decline also contradicts Tesla’s recent performance, as the electric vehicle manufacturer’s stock price has closed with weekly gains for the past four weeks.
Despite disappointing sales and registration data for Tesla in several European countries and China, optimistic news from recent macroeconomic events such as trade negotiations with other countries has driven Tesla's stock price up along with the broader market.
Tesla's stock price fell more than 2% in the first hour of trading on Monday, still down about 16% from the beginning of the year.
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