Tesla Loses All the Gains From 35% Rally Stoked by Hertz Electric Vehicle Deal
Pact was revealed Oct. 25, stock has slumped since Nov. 4 peak. Shares have fallen as Elon Musk reduced his stake in carmaker. Tesla Inc.’s stock went on a tear after an October deal with Hertz Global Holdings Inc. signaled broader mainstream adoption of its electric cars.Tesla slid 3.5% on Monday, closing at $899.94. That put the shares below where they’d closed right before the $4.2 billion Hertz deal was revealed on Oct. 25.A broad market decline weighed on Tesla Monday, with renewable-energy