Tesla stock in danger of extending losing streak after doubling discounts on some models

Shares of Tesla Inc.
TSLA,
-1.76%
inched 0.1% lower in premarket trading Thursday, but still had a fighting chance to snap a four-day losing streak, after the electric vehicle maker doubled the discounts on its Model 3 and Model Y EVs. The stock has tumbled 12.7% the past four sessions to close Wednesday at the lowest price since November 2020. “Take delivery of a new Model 3 or Model 6 between December 21 and 31, 2022 for a $7,500 credit and 10,000 miles of free Supercharging,” Tesla said on its website. The $7,500 credit is up from $3,750 offered earlier this month, as Dow Jones Newswires reported. The stock has lost more than half its value (52.3%) over the past three months through Wednesday, while the S&P 500
SPX,
+0.59%
has gained 3.2%.