Tesla’s ‘Brutal Selloff’ Worsens, Market Value Losses Hit $300 Billion As Investors Move Away From Big Tech

Shares of electric carmaker Tesla–last year's best-performing S&P 500 stock–plunged to their lowest level in three months Monday as the broader market rallied–yet another sign the recently booming market for tech stocks could be over once post-pandemic spending drives growth into other industries.

Tesla shares are down 20% in the past week alone, after plunging 8% Thursday when billionaire money manager Ron Baron–a longtime Tesla bull who's declared the stock could swell 30-fold in his lifetime–Though Baron reiterated that prices could rocket toward $2,000 over the next decade, he said the move helped reduce risk in his portfolios after Tesla's nearly 20x increase since he started buying shares in 2014, echoing concerns among other experts over the stock's heightened...

Concerns over rising rates have also hit high-flying exchange-traded fund provider Ark Invest, which has soared in popularity amid tech's dominance for its investments in"disruptive innovation" but is now"It's been a brutal selloff for the electric-vehicle sector over the past month, which along with tech stocks, have sold off markedly after a historic rally over the past year," Wedbush analyst Dan Ives said in a note Monday.

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Tech and GameStop losses have traders wondering if retail investors are losing interest in marketHave retail traders, who have been such a large part of the increase in volume last year, suddenly lost interest? Fake news I think This is the master plan of the market makers, shake all these new investors out before a bull run KunjanS3 No shit, really? We were of the opinion that stocks only go up.
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