US Stock Market Move | Tesla, Inc. (TSLA.US) fell more than 3% in pre-market trading, pressured by multiple negative news.

On Tuesday, Tesla, Inc. (TSLA.US) fell more than 3% in pre-market trading, closing at $453.42. On the news front, the stock faced multiple negative factors. On one hand, it was reported that Tesla, Inc. was recently sued for a serious car accident that occurred in Wisconsin in 2024. In this accident, a Model S car caught fire, causing all five passengers inside to perish. The lawsuit pointed out that due to a defect in the door design, the passengers were unable to open the doors to escape after the accident. On the other hand, on November 4th, it was reported that the Norwegian Sovereign Wealth Fund rejected Tesla, Inc. CEO Elon Musk's $1 trillion compensation plan, becoming the first major investor to make a decision on the plan. The fund expressed concerns about the size of the compensation plan: "While we appreciate Musk's visionary creation of tremendous value, we are concerned about the total size of the reward, dilution effects, and the lack of key person risk mitigation measures." Furthermore, the shipment volume from Tesla, Inc.'s Shanghai factory once again declined, further confirming market expectations that this electric vehicle manufacturer will face challenges in the final quarter of this year. According to preliminary data released by the China Passenger Car Association on Tuesday, this American electric vehicle giant had a total shipment volume of 61,497 vehicles in China in October, a nearly 10% decrease compared to the previous year. The data did not clearly distinguish between exports and domestic sales proportions, but most of the vehicles were supplied to Chinese domestic consumers.