Tesla Inc (NASDAQ:TSLA) shares are trading lower as the stock pulls back following Monday’s strength. Tesla shares gained in Monday’s session after the company reported better-than-expected vehicle production and deliveries in the fourth quarter.
Shares of several growth companies are also trading lower following a rise in US Treasury yields, which has pressured growth and tech stocks. The 10-year Treasury yield hit an intraday high of 1.686% Tuesday morning before dipping to around the 1.663% level. Overall market volatility is persistent during Tuesday’s session as investors continue to weigh omicron concerns.
See Also: Why Pinterest Shares Are Falling Today
Tesla is a vertically integrated sustainable energy company that also aims to transition the world to electric mobility by making electric vehicles. The company sells solar panels and solar roofs for energy generation plus batteries for stationary storage for residential and commercial properties including utilities.
Tesla has a 52-week high of $1,243.49 and a 52-week low of $539.49.
