Key Points
SAN FRANCISCO: Tesla Inc. shares have wiped out nearly one-fifth of their value in less than two weeks amid growing concerns that demand for electric cars is starting to weaken...
The selloff started earlier this month when the electric-vehicle giant dialled back growth expectations during its third quarter earnings call..
That was followed by grim commentary from several global automakers, as well as Wall Street analysts..
At the crux of the problem is a capital-intensive sector investing in unproven EV strategies amid a world of rising costs, lower prices, rising rates and slower demand, Morgan Stanley analyst Adam Jonas said discussing the wider industry weakness Tuesday..
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