Tesla Stock Has Plummeted Nearly 70% This Year Marking Its Biggest Ever Annual Drop | Carscoops carscoops
reports that as of December 28, Tesla’s stock price was down 41 per cent in the last month, 60 per cent in the last three months, 55 per cent in the last six months, and 70 per cent this year. Tesla stock reached as low as $109.10 on December 28 but rebounded to $122.87 on December 30 at the time of publishing. Overall, the electric carmaker has lost over $700 billion in market valuation.is not the only car manufacturer to have endured a steep decline in its stock price this year.
Wedbush analyst Dan Ives says that the decline in Tesla stock comes in part due to perceived weak demand in the United States and China, as well as the ongoing fiasco with Twitter.“Musk set off this five-alarm fire on Tesla’s stock and he is the only one that can extinguish it. It’s a perfect storm between the Musk Twitter fiasco and now demand cracking,” Ives told Yahoo Finance.
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