Shares of Tesla Inc (NASDAQ:TSLA) are trading flat Wednesday morning as investors digest recent conflicting reports, from flagging weekly registrations in China to a major expansion of its autonomous ride-hailing service in Texas.
What To Know: The electric vehicle maker is facing a complex picture in the critical Chinese market. Recent data showed new insurance registrations for Teslas in China dropped 27.5% year-over-year for the week of August 18-24.
However, tempering this news is a more optimistic forecast from Deutsche Bank, which projects Tesla will deliver over 53,000 vehicles in China for the full month of August. While this would mark a 17% decline from the previous year, it represents a 29% surge compared to July, aided by the recent launch of a long-range Model 3+ sedan.
Stateside, Tesla is pushing forward with its autonomous vehicle ambitions, announcing it has expanded its Robotaxi service area in Austin by 90% to 173 square miles and increased the local fleet size by 50%. This progress is set against a backdrop of legal scrutiny over its Full Self-Driving technology, including a class-action lawsuit in California.
Meanwhile, reports indicate low inventory for the popular Model Y in the U.S. and new $0 down lease offers on some used models, raising questions about domestic demand.
Adding to the cautious sentiment, T. Rowe Price fund manager David Giroux this week described Tesla’s stock as “crazy overvalued,” citing its high price-to-earnings ratio.
Price Action: According to data from Benzinga Pro, TSLA shares are trading flat at Wednesday morning. The stock has a 52-week high of $488.54 and a 52-week low of $202.59.
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How To Buy TSLA Stock
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Tesla’s case, it is in the Consumer Discretionary sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
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