Coronavirus effect: Tesla has sold 50% less in China

Wherever the panic mantra to be avoided is preached, but on the stock market a glimmer is enough to make the oxen run away. Here, therefore, that the TSLA stock is experiencing yet another black day, collapsing on the stock lists on the first suspicion that the situation in China is even worse than expected.

Initiatives are not enough Tesla on Tik Tok, the home delivery, nor the activism of the Tesla Stores on social networks for purchase assistance. According to what emerged, in fact, the group of Elon Musk it allegedly sold 3,563 cars in China in January versus the 6643 sold in December, which marks a 50% month-on-month meltdown.

Wall Street goes down, Tesla collapses

The consequence is immediate: Tesla stock falls again on the stock market, thus passing in a week from over $ 900 valuation to break down the $ 700, with the 20% of the value left on the street during yet another roller coaster ride. That volatility would remain high was known and expected; that the Chinese market would end up hitting Tesla on everyone, it was widely anticipated; that the collapse would have been so rapid and so sudden, however, was probably not foreseeable in these dimensions.

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However, all of this happens with a particular emphasis on Tesla in the context of a market that is going all the way down at surprising rates. After the record fall of the lists of Wall Street and i black data of auto sales in China (well beyond what is expected and across all the brands), Tesla does nothing but pay more than others. While the stock market leaves 8% on the street, therefore, Tesla leaves 20 percentage points on the pavement and prays for a diligent return to normal. In the meantime, the Gigafactory in Shanghai has partially resumed its activities and has churned out cars ready for delivery, thus probably providing for full operation within a few weeks.

In short, the group is preparing for the rebound, which will become an opportunity both for investors and for the consolidation of the brand on the fundamental eastern market.

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Michael

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