TSLA - China Says It Will Restrict Key Material In EV Batteries: Tesla Moves Lower | Benzinga
China’s Ministry of Commerce and General Administration of Customs announced Friday that it will begin restricting exports of graphite, a key component of electric vehicle batteries.
What Happened: Many EV companies, including Tesla, traded lower Friday, potentially on the news from China.
Tesla Inc (NASDAQ: TSLA) stock traded lower Friday morning by more than 4% at one point. It’s unclear whether the stock was down because of the news from China, or from the company’s disappointing earnings report and warnings Wednesday afternoon.
What’s Going On: Tesla’s stock is now down more than 15% since its earnings report Wednesday. CEO Elon Musk warned ...