Shares of Tesla Inc. headed lower on Monday, stretching their losing run to a fourth session, as support for stock from the United Auto Workers strike has failed to materialize and as the electric-vehicle maker reportedly looks to build a battery factory in India.
Tesla’s stock
TSLA,
has lost about 12% since the start of the UAW strike on Sept. 14. The strike began at one factory each of Ford Motor Co.
F,
General Motors Co.
GM,
and Stellantis NV
STLA,
and the UAW last Friday expanded the strike to 38 GM and Stellantis auto-parts distribution centers across 20 states, while saying it had made progress in talks with Ford.
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