Billionaires Sell Tesla Stock and Buy Another AI Stock Up 327% in 3 Years

Tesla is no longer the market leader in battery electric vehicles (BEVs). In fact, the company doesn't even rank second anymore. Chinese automakers BYD and Geely Automobile have stolen the top spots as Tesla has struggled with demand. Its first-quarter revenue dropped 9% to $19.3 billion and non-GAAP net income fell 40% to $0.27 per diluted share as deliveries dropped 13%. Management blamed factory updates that temporarily limited Model Y production for the drop in first-quarter deliveries, but the refresh ...