Tesla Stock Slides Amidst Fierce Competition and Valuation Concerns

Tesla’s stock experienced a decline on June 5th, following the company’s facing mounting pressure from declining EV sales and intensifying competition from Chinese automaker BYD. Analysts are concerned about Tesla’s massive valuation despite evidence of shrinking sales and profitability. While CEO Elon Musk focuses on AI advancements, car sales remain crucial to the company’s financial performance.