Shares of Tesla Inc.
tanked 6.0% in premarket trading Tuesday, which puts them on track to open about 24% below their record close. Many on Wall Street define a bear market as a decline of 20% or more on a closing basis from a significant peak. If Tesla's stock closes below $706.47, which is 20% below the Jan. 26 record close of $883.09, the bear market would become official. The last time the stock entered a bear market was Sept. 8, 2020, when it closed at $330.21, or 33.7% below the then-record close of $498.
and Li Auto Inc. LI, -6.70% both fell into bear markets on Dec. 1, while Nikola Corp. shares NKLA, -2.06% closed Monday 73.8% below its record close of $79.73 on June 9, 2020.
Think of it as a stock split.
Short sellers making money now guys...... Ha..... Ha..... Who's saying Short sellers lost money Back to school babe