Tesla Inc (NASDAQ:TSLA) shares are trading lower by 1.26% to $676.86 Thursday afternoon. Shares of auto and auto manufacturers companies are trading lower during Thursday’s trading session after data showed a slowdown in U.S. consumer spending in May.
The U.S. Bureau of Economic Analysis reported real disposable personal income decreased 0.1 percent in May and real personal consumption expenditures decreased 0.4 percent; expenditure on goods decreased 1.6 percent. Within goods, a decrease in spending on motor vehicles and parts (led by new motor vehicles) was partly offset by an increase in gasoline and other energy goods.
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Tesla is a vertically integrated sustainable energy company.
According to data from Benzinga Pro, Tesla has a 52-week high of $1,243.49 and a 52-week low of $620.46.
