Electric vehicle stocks came under selling pressure during the week ended October 15 and were dragged down broader market weakness. market leader Tesla Inc. TSLA continued to be penalized by traders and has now lost about half of its market cap compared to when the stock hit its all-time high in November.

Here are the main events that took place in the EV space during the week:

Tesla stock weakness sparks talks: Tesla hit a split-adjusted historic high of $414.50 on Nov. 4 and has since given back half of its gains.

Aside from the market-wide factors, the stock is also being pressured by company-specific issues such as increasing competition and CEO Elon Musk’s interested in Twitter Inc. TWTR. Investors fear that a Twitter purchase would force Musk to divest some of his stake in the company, potentially putting downward pressure on the stock. There are also concerns that the billionaire’s focus on Tesla will be diluted if the deal goes through.

Given the stock’s sell-off this year, analysts believe Tesla stock is trading at extremely oversold levels, touting an attractive valuation. Calls are growing for Tesla to initiate a buyback, and Future Fund’s Gary Black has issued an open letter urging the board to seek a $10+ billion buyback.

Tesla bull and founder of Ark Invest Cathie Wood said in an interview this week that Tesla is a solution to the economy, adding that innovation will help solve problems with supply chain issues and food and energy crises.

Musk announced that Tesla’s 10.69.3 fully self-driving beta will be released next week, with an earlier note from the CEO indicating that the release will introduce major upgrades to Tesla’s autonomous software.

Tesla sales in China hit a record high in September, according to data released by industry body China Passenger Car Association. The company sold 83,1335 cars in the month, beating the previous record of 78,906 set in August. The September Balance Sheet…