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Tesla is S&P 500’s Worst Performing Stock of 2024 – Quartz

Increased competition at home and abroad in the electric vehicle sector, particularly from China, has piled the pressure on Elon Musk’s firm

SpaceX owner and Tesla CEO Elon Musk at the E3 gaming convention in Los Angeles
Musk is the world's second-richest person according to Forbes magazine.


Investors have been dumping US EV giant Tesla’s stock, sending it plunging downwards by 24% in just five weeks, Quartz News reported, making it the worst performer this year in the S&P 500.

That’s worse than crisis-hit plane-maker Boeing and online retailer Etsy, which has been laying off staff because of falling business, the report went on, with Tesla’s market plunge estimated to have erased more than $200 billion of shareholder value.

Read the full story: Quartz News


  • By Sean O’Meara


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Sean O'Meara

Sean O'Meara is an Editor at Asia Financial. He has been a newspaper man for more than 30 years, working at local, regional and national titles in the UK as a writer, sub-editor, page designer and print editor. A football, cricket and rugby fan, he has a particular interest in sports finance.


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