Will Tesla (TSLA) Stock Feel The Crypto Sell-Off?

Electric vehicle company Tesla (NASDAQ:TSLA) may have managed to emerge as the undisputed leader of its industry, but there are certain concerns that investors ought to keep in mind.

Will Tesla (TSLA) Stock Feel The Crypto Sell-Off?

There seems to be a bit of incongruence when it comes to the company’s actual business and what it is touted to be. The company’s charismatic founder and Chief Executive Officer Elon Musk has managed to maintain the company’s narrative online, which could be one of the factors behind Tesla’s valuation.

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However, Tesla has been experience problems in China, which is one of the biggest electric vehicle markets in the world. Earlier this month, it emerged that the company’s sales in China had crashed by 27% in April month over month. That was reported a couple of days after Chinese media reported about the crash of a Tesla car in the country. Now, experts are speculating whether the Chinese leadership is trying to undermine Tesla in a bid to prop up domestic electric vehicle makers like Xpeng and NIO. If that’s the case, then the company could have a tough problem in its hands.

Michael Rowels

Weekend Contributor. Writing for business and finance publishers has become his passion over the last decades after he completed a master's degree in Financial Management. Sharing some opinions and forecasts to thousands of readers is a routine job for him but he never promises to invest in one stock.