Tesla stock price falls 15% as largest outside investor trims stake - Business Insider

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 41 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 51%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

Tesla shares fall 15% as its recent stock spike forces its largest outside investor to trim its stake

slumped as much as 15% Wednesday to $405.12 after the stock's recent rally forced its largest outside investor to trim its stake. to 4.25% from more than 6.32%, according to a regulatory filing.

The company said that the lowered position is due to internal policies that restrict the weight of a single stock in client portfolios. This year, Tesla has been on an epic record-breaking rally that's sent shares up more than 425%. The firm also said that it remains highly bullish on Tesla. "We intend to remain significant shareholders for many years ahead," portfolio manager James Anderson told Business Insider through a company spokesperson. "We remain very optimistic about the future of the company.

He added that while the Elon Musk-led automaker "no longer faces any difficulty in raising capital at scale from outside sources," Baillie Gifford would "welcome the opportunity to once again increase our shareholding" in Tesla if the stock were to fall.

 

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

 /  🏆 729. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

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

New Tesla video shows Model 3 cars being made inside its China factory - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Love TESLA !!!
Source: BusinessInsider - 🏆 729. / 51 Read more »

Inside McDonald's Black franchisees' quest for equality - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Media outlets lean either to the right or to the left in the US, but never has the US look so fragile and divided, why
Source: BusinessInsider - 🏆 729. / 51 Read more »

GOLDMAN SACHS: 10 oil stocks investors should buy now, and one to avoid - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »