Since October, the company’s shares have fallen by more than 50 percent and in November 2021 i.e. 14 months, Tesla’s shares have fallen by more than 73 percent.
Elon Musk Due to the arbitrary attitude of Twitter neither growth is being seen and because of that Tesla, the world’s largest EV car company is also suffering heavy losses. That’s because Tesla shares on Tuesday (Tesla Share Price) Has seen the biggest decline in eight months. Since October 2022, the company’s shares have fallen by more than 50 percent and in November 2021 i.e. 14 months, Tesla’s shares have fallen by more than 73 percent. According to experts, investors Elon Musk Very disappointed with. He believes that Musk has forgotten Tesla to pay attention to Twitter. Due to which the shares of Tesla are seeing a decline.
Biggest fall in eight months
When the US stock markets opened on Tuesday, Tesla’s shares once again appeared to be collapsing. According to the data, Tesla’s shares saw a decline of more than 11 percent. Tesla shares on Nasdaq closed at $109.10 per share, down 11.41 per cent. This is the biggest drop in Tesla’s shares in one day in eight months. Although the stock opened at $ 117.50 on the index and during the trading session, the shares of the world’s largest EV maker also reached a lower level with $ 108.76 per share.
Prices have fallen by more than 50 percent since October
Since the beginning of October, the company’s share price has fallen by more than half. Let’s try to understand it with some figures. When the market closed on September 30, the company’s stock was at $ 265.25. At the same time, Tesla’s shares have come down to $ 109 per dollar. This means that the company’s shares have seen a decline of 59 percent. In fact, investors are concerned that Twitter is taking up more of Musk’s time now that he is the owner and CEO of the social network.
Musk’s insistence drowned Tesla?
His tenure as Twitter Chief is being considered quite anarchy. Explaining the reason for this, experts are saying that they formulate and implement many new policies and then reverse them. Recently, Musk had run a poll on Twitter, in which about 60 percent of the users asked Musk to leave the CEO of Twitter. Since then Musk has started looking for a new CEO. Experts say that due to his erratic behavior, investors’ confidence in Tesla has decreased. Since 2021, the company’s shares have seen a decline of about 74 percent. According to statistics, on November 4, the price of Tesla shares was at a high of $ 414.50.
Due to this also the decline
According to a Reuters report, the company is planning to produce less at its Shanghai plant in January. The news has raised concerns of a drop in demand in the world’s largest car market amid rising numbers of Covid-19 infections in China. Citing delivery forecast cuts from Chinese rival NIO in the key market, Thomas Hayes, chairman of Great Hill Capital, said, “There is no question that demand is expected to be lower. Hayes also said that Tesla’s stock has seen a decline due to high interest rate, tax loss sale and selling shares by some funds.
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