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Tesla Investors Losing Faith

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Tesla Investors Losing Faith

Tesla Investors Losing Faith

Tesla CEO Elon Musk said last week that deliveries were on track, but the stock is trading at levels not seen since 2016.

Not long ago, it looked as if Tesla had turned the corner: Elon Musk's electric vehicle and solar energy company reported consecutive quarterly profits as it improved its manufacturing capabilities.

But lately, investors have been losing confidence that it can become sustainably profitable as U.S. subsidies wane for its pricey electric vehicles — especially as more rivals, including premium German brands, begin to flood a market that hasn't broadly embraced EVs.

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