Tesla’s market share is plummeting, and at least one seasoned investor says it looks more like a meme stock than a member of the Magnificent Seven.
Elon Musk’s electric car company, which has long dominated the U.S. EV market, made up less than 50% of U.S. EV sales for the first time ever in the second quarter, according to a soon-to-be-released report by research firm Cox Automotive. The EV maker’s U.S. sales fell 6.3% in the quarter, Cox estimated, even as overall EV sales in the country jumped 11.3% year over year.
