Tesla's market cap sinks below $1 trillion as stock slumps more than 8%
Tesla's market cap sinks below $1 trillion as stock slumps more than 8%
www.cnbc.com Tesla's market cap sinks below $1 trillion as stock slumps more than 8%
Tesla shares have dropped dramatically since peaking in December, and Tuesday's decline pushed the company's market cap below $1 trillion.
KEY POINTS
- Tesla shares sank 8% on Tuesday and have now lost most of their gains that followed Donald Trump’s election victory in November.
- The stock has plunged 25% this year, while the Nasdaq is down just 1.5%.
- Reuters reported on Monday that the company’s long-awaited upgrade of its partially automated driving system in China left owners unimpressed.