Tesla Inc. has gone from Wall Street’s hottest trade to most hated in a matter of months. Compounding the stock’s woes this week, a rival out of China has one-upped the company on what’s supposed to be Elon Musk’s forte: EV innovation.

Shares of Tesla tumbled as much as 6.6% while BYD Co. shot to an all-time high after unveiling an electric car that can be charged as quickly as a gas vehicle is refueled.