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
Also on AF:
Indian Carmakers Block EV Import Tax Cut to Prevent Tesla Entry
Smaller Profit Margins Help China’s BYD Steal Tesla’s EV Crown
New Battery Rules Cut Nissan, Tesla EVs From US Tax Credits
Tesla Gains $31m Shanghai Land For New Megapack Battery Plant
