Tesla Stock Set to Lose $76 Billion in Two Days on Growth Risks
Mar 05, 2024 - bloomberg.com
Tesla Inc.'s stock is set to lose $76 billion in market capitalization within two days due to negative news from China and Germany, raising doubts about the company's growth. Tesla's Shanghai factory reported its lowest shipments in over a year in February, negatively impacting the company's stock.
The stock fell by as much as 5.6% on Tuesday, following a 7.2% drop on Monday. This decline is largely attributed to the decreased production in Shanghai and the unfavorable headlines from two major markets.
Key takeaways:
Tesla Inc.’s stock is set to lose $76 billion in market capitalization in two days due to negative news from China and Germany.
The negative headlines have reignited concerns about the company’s growth trajectory.
Shipments from Tesla’s Shanghai factory dropped to the lowest in over a year in February, negatively impacting the company's stock.
Tesla's stock was down as much as 5.6% on Tuesday, after closing 7.2% lower on Monday.
