Tesla Stock Slumps Further On Berlin Plant Arson, Weaker China Sales, And Broader EV Industry Pressures
- Tesla shares down for 2nd day, lost $76B in market cap
- Berlin plant suffered arson attack, unclear when operations will resume
- Tesla sales in China lower than expected
- Points to "fracturing" of EV companies that were outperforming (Magnificent Seven)
- Tesla facing margin compression, price cuts; bull case difficult next 2 years