Brutal December for Tesla stock continues

Tesla stock is having a bad year, and a very bad December so far.

Shares of the EV maker are down 18% so far this month, according to Yahoo Finance data, and down more than 50% so far in 2022.

The stock fell 1% in premarket trading on Wednesday, and the company’s ticker page remains among the most visited on Yahoo Finance as fans of the brand grow increasingly antsy.

Analysts point to several factors behind the stunning fall in Tesla’s once indestructible stock price.

First, the risk of operational miscues at Tesla has grown as Elon Musk focuses on the newest company in his portfolio, Twitter.

Second, concerns remain around manufacturing issues and the pace of sales for Tesla in China amid an uncertain approach to COVID-19 policies.

And lastly, competition in the EV space in the United States has only intensified this year — raising the risk of slowing growth for Tesla in 2023 and beyond.

Elon Musk attends the opening ceremony of the new Tesla Gigafactory for electric cars in…

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This article was written by and originally published on finance.yahoo.com