Tesla Falls As US Senate Pushes Trump's Spending Bill Forward
Shares of Elon Musk-led Tesla TSLA.O fall 1% to $319.99 premarket, after declining 9.5% from last Monday's peak.
U.S. Senate Republicans pushed forward President Donald Trump's sweeping tax cut and spending bill
The revised budget bill would end the $7,500 tax credit on new EV sales on Sept 30, instead of 180 days after the bill was signed into law
Musk has said the latest version would destroy millions of jobs and called it "utterly insane and destructive"
Stock had tumbled last week after co's European sales slumped for the fifth month as customers switched to cheaper Chinese EVs
Twenty-four brokerages rate the stock "buy" and higher, 19 "hold" and 11 "sell" and lower; median PT is $300 - data compiled by LSEG
As of Friday's close, TSLA is down 19.8% YTD.
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