Tesla stock dove 34% in a week
Tesla's days of swiping Wall Street off its feet seem to be over if we consider the Tuesday trading session.
Tesla shares reported the worst single-day drop in their history and added to the significant sell-off in tech stocks. The stocks closed lower by 21.06%, making the company lose roughly $80 billion in market cap. The amount is higher than the market caps of General Motors and Ford combined. At a weekly level, shares have dropped more than 34%.
The drop was caused by the company's exclusion from the S&P 500, which was long touted given the fact that Tesla posted higher-than-expected #Q2 figures, and it later decided on a 5-1 stock split.
Its exclusion from the S&P 500 came unexpectedly. In an unpredicted announcement, the index decided to add Catalent – a pharmaceutical tech company, Teradyne – a semiconductor equipment maker, and Etsy – an online craft seller. According to specialists, the exclusion normalized the company’s valuation.
At the same time, the electric automaker Nikola Corp, a new competitor of Tesla, saw more than 40% increase in its stock price after General Motors announced it would purchase a 11% stake in the company.
Year-to-date, Tesla stock price is still up almost 284%. It closed yesterday’s session at $330.21, after reaching an intraday high of $502.49.
Sources: reuters.com, fortune.com
لا يجب على المستخدمين/القراء الاعتماد على المعلومات المقدمة هنا وحدها ويجب على المتلقي إجراء تحليلاته/أبحاثه الخاصة عن طريق قراءة البحث الأساسي الفعلي.تتسم المعلومات الواردة هنا بالعمومية ولا تأخذ في الاعتبار الظروف الشخصية لكل فرد، أو خبراته الاستثمارية أو وضعه المالي الحالي.
وبناء عليه، لن تتحمل Key Way Investments Ltd الأداء السابق للأصل المالي وتوقعات الأسواق ليست مؤشرات موثوقة للنتائج المستقبلية. لا يعتبر الأداء السابق مؤشراً موثوقاً على النتائج المستقبلية.
