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July 1, 2022, 7:33 a.m. EDT

Tesla's stock bounces into positive territory after China-based rivals report upbeat June deliveries

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By Tomi Kilgore

Shares of Tesla Inc. /zigman2/quotes/203558040/composite TSLA +3.43% bounced into positive territory in premarket trading Friday, going from an earlier loss of as much as 1.7% to a gain of 0.5%, after China-based electric vehicle makers reported strong June deliveries data. China is an important market for Tesla, as the EV giant generated 24.8% of its revenue from China in the first quarter , and 25.7% of its revenue from China in 2021. The stock's bounce comes after it had lost 8.6% amid a four-day losing streak through Thursday, to end the month of June with a 11.2% decline. NIO Inc. /zigman2/quotes/204905836/composite NIO +0.85% , Li Auto Inc. /zigman2/quotes/219811686/composite LI +0.37% and XPeng Inc. /zigman2/quotes/219982686/composite XPEV -4.12% all reported big increases in June deliveries, both from a month ago and from a year ago, to continue a recovery after a relatively rough April. Tesla's stock has dropped 36.3% year to date through Thursday, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.38% has declined 20.6%.

/zigman2/quotes/203558040/composite
US : U.S.: Nasdaq
$ 930.97
+30.88 +3.43%
Volume: 24.53M
Aug. 15, 2022 2:48p
P/E Ratio
112.41
Dividend Yield
N/A
Market Cap
$940.14 billion
Rev. per Employee
$676,463
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/zigman2/quotes/204905836/composite
US : U.S.: NYSE
$ 21.29
+0.18 +0.85%
Volume: 28.76M
Aug. 15, 2022 2:48p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$3.13 billion
Rev. per Employee
N/A
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/zigman2/quotes/219811686/composite
US : U.S.: Nasdaq
$ 32.61
+0.12 +0.37%
Volume: 14.59M
Aug. 15, 2022 2:48p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$31.42 billion
Rev. per Employee
$432,700
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/zigman2/quotes/219982686/composite
US : U.S.: NYSE
$ 23.41
-1.01 -4.12%
Volume: 12.34M
Aug. 15, 2022 2:48p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$20.59 billion
Rev. per Employee
$284,675
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/zigman2/quotes/210599714/realtime
US : S&P US
4,296.27
+16.12 +0.38%
Volume: 2.22B
Aug. 15, 2022 2:48p
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