Tesla's stock value fell by 3% to close at $724.54 yesterday after General Motors announced a new line of its own electric vehicles that will be Tesla's biggest competitor. This piece of news coupled with the fact that there is still controversy lingering in the air after the stunt that Tesla pulled by upgrading their model 3 vehicles with low-grade chips instead of promised chips.
However, Tesla won long-awaited permission by the government to start the delivery of its long-range Model 3 vehicles. The Model Y is also picking up the pace and this might see the stock improve over the new week when the markets open.