Tesla (TSLA) shares are nearly 25% below their all-time high set earlier in the year, and down 2% for 2021 to date. A time when traditional automakers are surging as they ramp up electric vehicle ambitions.
The stock of the electric vehicle manufacturer was included to the S&P 500, and it soared 743 percent. However, some investors have just pulled the plug on the enterprise.
Tesla skeptics have a long list of concerns. The company is being shorted by a well-known short seller who was featured in the film “The Big Short.” After longstanding employee Jerome Guillen abruptly left earlier this month, there were concerns about Tesla’s management bench, especially because CEO Elon Musk is also operating SpaceX.
Still, there’s no doubting that the brand has a devoted following, and its vehicles have gotten a lot of great press this week.