Why Is Tesla Stock Trading Lower Today?

Tesla Inc TSLA shares are trading lower by 3.9% at $581.33 after The Information reported data showing China orders fell in May.

The report stated Tesla vehicle orders in China fell by nearly half in May compared to April, according to internal data, and the company’s monthly net orders in China dropped to about 9,800 in May from more than 18,000 in April.

See Also: Do Multiple Tesla Vehicle Recalls Complicate Its Growth Story?

Tesla is a vertically integrated sustainable energy company that also aims to transition the world to electric mobility by making electric vehicles. Tesla also sells solar panels and solar roofs for energy generation plus batteries for stationary storage for residential and commercial properties including utilities.