Tesla’s stock price fell more than 50%, and its market value fell below $500 billion for the first time in two years

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Fenghuang.com Technology News Beijing time on December 15th, Tesla’s stock price continued to fall on Wednesday, causing the company’s market value to fall below the $500 billion mark for the first time since November 2020.

Tesla’s stock price fell 2.6% on Wednesday to close at $156.80. The cumulative decline this year has expanded to 55%, and its market value has dropped to $495 billion. A sharp drop in Tesla’s stock price will pain many investors. As of Wednesday’s close, the company was the sixth-largest component of the S&P 500 and the third-largest drag on the index this year. Tesla joined the S&P 500 two years ago next week.

Tesla’s market value falls below $500 billion

While Tesla’s stock price has largely slid throughout the year, the decline has intensified in the past few months, falling 41% since the end of September this year. Shares in the S&P 500 have risen 11% over the same period, while the tech-heavy Nasdaq 100 has risen 7%.

Externally, Tesla’s stock price has been hit by investors’ concerns about a potential recession and the Federal Reserve’s interest rate hike, which has prompted investors to sell risky and expensive stocks, triggering a sharp sell-off of technology and growth assets in the stock market. Add to that Tesla’s own problems, including supply shortages, soaring raw material costs and production disruptions, as well as Elon Musk’s focus on turning around its newly acquired Twitter, all of which have contributed to The stock weighed heavily. Musk has lost his title as the world’s richest man as Tesla’s stock price has fallen. (Author/Xiao Yu)

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