Shares of Tesla Inc. experienced a decline of 1.4% in premarket trading on Wednesday, marking the fourth consecutive day of losses for the electric vehicle company. Over the past three days, Tesla's stock has slid by 5%, echoing a slight dip of 0.8% in the Global X Autonomous & Electric Vehicles ETF during the same period.

This ongoing losing streak is significant as it is the longest stretch of consecutive declines for Tesla's stock since the four-day period ending on December 4th. Interestingly, this downturn comes even as the company reported fourth-quarter deliveries that surpassed expectations. Tesla's stock had witnessed a minor increase of 0.8% over the past three months until Tuesday.

The recent surge of Chinese electric vehicle manufacturer BYD Co. has played a role in Tesla's stock setbacks. BYD Co., based in China, has managed to surpass Tesla as the leading seller of electric vehicles in the country. This achievement has diverted some investor attention away from Tesla, causing a slight downward pressure on the stock.

Despite this decline, Tesla's stock still reflects a positive overall trend in the market, having gained 0.8% over the past three months. This performance, however, contrasts sharply with the broader stock market index, the S&P 500, which has witnessed a significant 12.1% surge during the same period.

The fluctuation in Tesla's stock can be seen as a reflection of the fierce competition in the electric vehicle industry, especially in the Chinese market. Tesla will need to redouble its efforts to regain its leading position in this dynamic and rapidly evolving sector.

Investors will be closely monitoring Tesla's next moves as the company faces challenges both domestically and internationally. The company must navigate market pressures and maintain a competitive edge in order to secure its status as a frontrunner in the electric vehicle market.

Disclaimer: The information provided in this article is based solely on the data and events mentioned in the original text and does not provide any additional analysis or projections beyond those explicitly stated.