Tesla stock tumbles deep into bear-market territory_老虎社区_美港股上老虎 - 老虎社区

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Tesla stock tumbles deep into bear-market territory

Dow Jones2021-02-23

MW UPDATE: Tesla stock tumbles deep into bear-market territory

Shares of Tesla Inc. $(TSLA)$ tumbled 10.5% to $640.00 in morning trading Tuesday, and have now plunged 27.5% from their record close, to put them on track to suffer their second bear market in less than six months. Many on Wall Street define a bear market as a decline of 20% or more on a closing basis from a significant peak. A close below $706.47, which is 20% below the Jan. 26 record close of $883.09, would make the bear market 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 $498.32 on Aug. 31. The stock rose to a new record on Nov. 19. Tesla's stock has still run up 22.5% over the past three months, while the S&P 500 has gained 6.9%. Among Tesla's electric vehicle peers, shares of China-based Nio Inc. $(NIO)$ took a 13.6% dive in morning trading, after closing Monday 19.4% below its Feb. 9 record close of $62.84. The stocks of XPeng Inc. $(XPEV)$ and Li Auto Inc. $(LI)$ both fell into bear markets on Dec. 1, while Nikola Corp. shares $(NKLA)$ closed Monday 73.8% below its record close of $79.73 on June 9, 2020.

-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com

$(END)$ Dow Jones Newswires

February 23, 2021 09:56 ET (14:56 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

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dexterch
·2021-02-24
Ok la make sense over priced. Now market correct
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Now market correct","listText":"Ok la make sense over priced. Now market correct","text":"Ok la make sense over priced. Now market correct","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/363116821","repostId":2113733105,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":2,"commentSize":1,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}