Shares of Tesla (NASDAQ: TSLA) are down over 5% in today's trading session, as the stock hit its lowest price since 2020. This can be attributed to a potential return to lockdowns in China as COVID-19 cases began spiking again. Given that Tesla has a Gigafactory in Shanghai, there are fears that it may be forced to shut production once again. This would have a material impact on its financial results as the China factory is a major driver of profits. Is TSLA Stock a Buy? TSLA stock has a Moderate Buy consensus rating based on 19 Buys, seven Holds, and three Sells assigned in the past three months.
https://www.tipranks.com/news/tesla-shares-nasdaq-tsla-fall-amid-chinese-lockdown-fears?utm_source=advfn.com&utm_medium=referral