Tesla Stock Is Down Again. It’s Not From EV Competition.

Tesla


stock is down again, dropping for a second consecutive day. Are investors fretting about more electric-vehicle competition? Probably not. The stock chart is a better explanation for Monday’s dip.

Tesla


stock (ticker: TSLA) is down about 2% in midday trading after dropping 5% on Friday. What’s more, shares are dropping while the market is moving higher. The


S&P 500


and


Nasdaq Composite


are up 0.9% and 1.4%, respectively.