Tesla plummets more than 11%, falling for seven consecutive days

Last week, Tesla CEO Musk promised that he would not reduce his holdings in the near future, but Tesla’s stock price continued to fall. On Tuesday, December 27th, Eastern Time, Tesla opened low and moved low, and fell to $108.76 in late trading. In the end, Tesla closed down 11.41%, the largest closing decline since April 26, closing at $109.1, a record high. A new low since August 13, 2020, closed down for the seventh consecutive day, and hit a two-year closing low for seven consecutive days. | Related Reading (Wall Street Insights)

Zhong Hongda

It seems that since the announcement of the acquisition of Twitter, Tesla’s stock price has fluctuated, but at that time, Tesla’s stock price fell, it may be purely because of the Federal Reserve’s interest rate hike. And now the decline in Tesla’s stock price has reached the point where Musk has to come out and promise that he will not reduce his holdings in the near future.

Whether it is its focus on Twitter, which makes people suspect that its energy is not on Tesla, or Tesla’s recent weak sales, it may be the reason for the stock price drop, and next year, seeing a global economic recession looming, That would be a grim situation for Tesla.

This article is reproduced from: https://www.fortunechina.com/jingxuan/25610.htm
This site is only for collection, and the copyright belongs to the original author.