Tesla’s decline on the New York Stock Exchange is now reaching historic levels.
$800 billion in market capitalization is gone.
The latest trading week meant another decline for Tesla shares on the New York Stock Exchange, meaning that the shares have fallen for seven weeks in a row, the longest streak of declines in 15 years for the company, reports CNBC.
The current price, $270, equivalent to 2,700 kronor, also means that the shares are now at their lowest price since November 5 when Donald Trump was elected president of the United States.
Target price lowered
The turnaround was thus complete after Tesla rose sharply in connection with Trump being elected president and the market viewed Tesla optimistically based on Musk’s connection to Trump. However, after the share price surged to $480 in mid-December, it only went down, and market capitalization of $800 billion disappeared during the decline.
Several banks, including Bank of America and Goldman Sachs, have also sharply lowered their target price for the share, citing weak sales figures in Europe, among other things.
Elon Musk has also been increasingly questioned, including his connection to the German far-right party AFD, for which Musk has expressed his support.
Recent Comments