Why Tesla Stock Tapped the Brakes Today
Tesla (NASDAQ: TSLA) shares were falling lower today after Bloomberg reported that the company could cut production of its Model Y at its Shanghai factory this month. Tesla could cut Model Y production at its Shanghai factory by 20% this month, compared to November's production levels. Tesla hasn't confirmed the production cut, nor is it immediately clear why the automaker may put it in place, but Bloomberg and Reuters reports indicate that Tesla's inventory levels are high right now in China.
