News Formal

Tesla stock rout puts market cap below US$500bil

  • 📰 staronline
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 75%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Shares of Tesla Inc have been in freefall over the past few months, sinking nearly 40% since the end of September.

Shares of the EV industry leader have been in freefall over the past few months, sinking nearly 40% since the end of September, compared with a 12% advance in the S&P 500.

Concerns about EV demand, as well as chief executive officer Elon Musk’s preoccupation with the overhaul of Twitter Inc, have both weighed heavily on the stock this year.A block of 3.11 million shares traded at a market value of US$500mil . A seemingly insatiable investor appetite for anything related to EVs, and more broadly, technology, helped fuel part of that rally in a cash-rich market.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in MY
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Tesla is the first EV technology mover. Now that the hype is over .... EV market will be lead by real car manufacturers- the likes of German, Japanese,Korean and Chinese EV vehicles

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Global chip industry projected to invest more than US$500bil in new factories by 2024PETALING JAYA: The worldwide semiconductor industry is projected to invest more than US$500bil in 84 volume chipmaking facilities starting construction from 2021 to 2023, SEMI announced in its latest quarterly World Fab Forecast report.
Source: staronline - 🏆 4. / 75 Read more »