Tesla Stock Faces Pressure After Berlin Factory Production Halt

Tesla's stock experienced a drop in premarket trading on Tuesday as production came to a standstill at its Berlin factory due to a power outage.

Market Movement

• Tesla shares were down by 1.5% in premarket trading
• S&P 500 futures fell by 0.1% and Nasdaq Composite futures were down by 0.4%

Production Setback

One of the contributing factors to the stock decline was the temporary halt in production at Tesla’s Berlin plant. Reports suggested that a fire, suspected to be arson, occurred near the factory premises.

Environmental Concerns

Environmental groups, worried about the impact of the factory on local flora and fauna, had raised objections during the construction phase. Tesla remained unavailable for immediate comment on this matter.

Peer Performance

• Ford Motor stock saw a slight increase of 0.24%
• General Motors shares were down by 0.4%
• Lucid stock and Rivian shares faced declines of 2.2% and 1.6% respectively in premarket trading
• NIO stock remained stable despite an earnings miss

Past Performance

Tesla's stock is notably below its 52-week high of $299.29 recorded last summer. With a trading volume of 134.33 million on Monday, surpassing the 65-day average of 110 million.