5 Trending Stocks to Watch Today

4. Tesla, Inc. (NASDAQ:TSLA)

Number of Hedge Fund Holders: 72

Shares of Tesla, Inc. (NASDAQ:TSLA) fell to a new 52-week low this morning after the electric vehicle (EV) giant lowered the prices of some models in China.

Tesla, Inc. (NASDAQ:TSLA) decreased the initial price of Model 3 sedan to 265,900 yuan, from its previous price of 279,900 yuan. Moreover, its Model Y SUV will now carry a price tag of 288,900 yuan, versus its earlier selling price of 316,900 yuan.

Some industry experts are attributing the latest move to intensifying competition in China. Tesla, Inc. (NASDAQ:TSLA) is reportedly facing increasing competition from local players, such as BYD and Xpeng, in the world’s largest automotive market.