Tesla Is Tumbling

Tesla’s stock is down 2.8% to $US169.86, though it’s unclear what is behind the sell-off.

Yesterday it was reported that MPG Car Rental would offer Tesla Model S, only in Los Angeles.

Tesla has run into problems with powerful auto dealer lobby groups in the past that have been opposed to Tesla’s decision to sell directly to customers. This is because typically, major automakers sell through franchised dealers. It is unclear if this decision to place Model S with a rental car dealership will complicate matters for Tesla.

Here’s a look at the two-day chart:

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