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Tesla (TSLA) - Get Tesla Inc. Report is raising the price of its cars, but that’s not raising its stock price.
The Austin electric-vehicle giant's shares at last check June 16 were down more than 9% from a day earlier.
The action in the broad market isn't helping. The S&P 500 has given up 3.5% and the Nasdaq is down 4.4% on the day. In the week through June 15, the S&P had fallen 2.8% and the Nasdaq had shed 2.1%.
Still, the bulls were likely hoping that Tesla could buck at least some of the market weakness, although investors broadly are concerned that cost pressures could hurt near-term profit margins.
The crash in bitcoin hasn't helped matters, either. Tesla stock has also been in focus because its leader, Elon Musk, is always in focus.
Whether he's getting political on which party he’s voting for or he's addressing his pending acquisition of Twitter (TWTR) - Get Twitter Inc. Report, Tesla investors have every reason to feel distracted.
With the carmaker's shares currently down about 50% from the high, here’s how to approach trading them now.