Tesla Faces Stock Volatility Amid Competitive and Internal Challenges

Tesla's stock is experiencing significant volatility as it faces challenges from competitors and internal issues. BYD, a Chinese electric vehicle maker, unveiled a fast-charging platform that poses a competitive threat, causing Tesla shares to drop over 5%. Additionally, Tesla vehicles are depreciating faster than other brands, with used values falling by an average of 7.26% year-over-year, partly due to declining demand. Elon Musk's political views and controversial actions are alienating some of Tesla's traditional customer base, contributing to the brand's image issues. Despite these challenges, Tesla continues to innovate with models like the Model 3 Performance, which remains competitive in the EV market. Analysts are concerned about Tesla's outlook in international markets, leading to reduced price targets and revenue projections.