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Potential Strike Dampens Sentiment Around Tesla Inc (TSLA)

Shares of Tesla Inc (NASDAQ:TSLA) have fallen $1.45 per share, or 0.5%, in mid-day Tuesday trading due in part to the potential for a labor strike in Tesla’s German facilities. Elon Musk’s electric vehicle company bought German Grohmann Engineering, a manufacturing automation designer, for $150 million earlier in the year in hopes of improving its efficiency but now faces a potential labor disruption due to wage disputes. According to sources, the labor union IG Metall could later today begin a strike to force management to provide German employees with better wage terms. If a strike occurs, Tesla’s ambitious Model 3 production plans hopefully won’t be hindered. Tesla Inc (NASDAQ:TSLA) said, ‘We continue to work directly with Tesla Grohmann employees and are prepared in the event there is an action initiated by the union. We don’t anticipate any impact on the Model 3 timeline.’

What Does The Smart Money Sentiment Say?

At Insider Monkey, we’ve developed an investment strategy that has delivered market-beating returns over the past 12 months. Our strategy identifies the 100 best-performing funds of the previous quarter from among the collection of 700+ successful funds that we track in our database, which we accomplish using our returns methodology. We then study the portfolios of those 100 funds using the latest 13F data to uncover the 30 most popular mid-cap stocks (market caps of between $1 billion and $10 billion) among them to hold until the next filing period. This strategy delivered 39.7% gains over the past 12 months and outperformed the 24.1% gain enjoyed by the S&P 500 ETFs. Our enhanced small-cap hedge fund strategy returned more than 45% over the last 12 months and outperformed SPY by more than 30 percentage points over the last 4.5 years (see details here).

38 elite funds owned shares of Tesla Inc (NASDAQ:TSLA) at the end of December, up 4 funds from the previous quarter.

The Bottom Line

Tesla Inc (NASDAQ:TSLA) shares are lower on Tuesday due to a potential strike. For more reading, check out ‘11 countries with most cars in the World in the World‘.

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