A Good Sign For Tesla Motors Inc (TSLA)

investTesla Motors Inc (NASDAQ:TSLA) fell again during the last week.

From the close of market on Monday, April 21, 2014, to the close of market yesterday, April 28, TSLA dropped from 204.38 to 198.51, for a loss of 2.9 percent, which was a larger loss than what was seen in the market as a whole.

During the same time period, the Dow ended essentially unchanged, NASDAQ was down 1.14 percent, and the S&P 500 was down 0.13 percent.

Despite the overall loss for the week, TSLA had a great day last Tuesday, rising almost 7 percent in a single day after Tesla sold its first cars in China, and Tesla CEO Elon Musk, who was in China to celebrate and publicize the sales, announced plans to build out a network of charging stations in China and to begin producing cars within the country in three or four years.

In other news this past week, Tesla leased a 430,000-square-foot former Chrysler (Milan: F) plant in California’s Central Valley, east of San Francisco.

While this shows that Tesla is expanding its operations in California, this particular plant is unlikely to become the site of the much-anticipated Gigafactory battery manufacturing facility, according to the Sacramento Bee.

Several states,including California, are still competing to host the Gigafactory, which is expected to bring millions of dollars and create 6,500 new jobs to the state where it ends up being located. (Related: Apple Inc. (AAPL) Possibly Acquiring Tesla Motors Inc (TSLA)?)

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