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2021-11-10

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Tesla shares steady after two-day rout wipes out $200 bln in market cap

Nov 10 (Reuters) - Tesla Inc shares edged higher on Wednesday, following a two-day rout that saw the

Tesla shares steady after two-day rout wipes out $200 bln in market cap

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A near 58% said they supported a sale.</p>\n<p>Tesla shares were up 1.7% at $1,041.25 by 0940 GMT after sliding 8% so far this week.</p>\n<p>Investors are keeping a close watch on Tesla filings with the U.S. Securities and Exchange Commission (SEC) for any clues on Musk’s share-sale plans. SEC rules give companies four working days to report major events.</p>\n<p>Four former and current Tesla board members, including Musk’s brother Kimbal Musk, filed to sell nearly $1 billion worth of shares late last month, according to filings and market data.</p>\n<p>“A CEO asking his followers if he should sell a large number of shares is never going to reflect well in the share price. 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Doing so a day after his brother has sold a large number just compounds investor fears,” said Craig Erlam, market analyst at Oanda.\n“That said, I think we need to take Musk with a pinch of salt and investors may quickly view this as a dip buying opportunity.”\nDespite the selloff, the stock is still up nearly 45% for the year after hitting a series of record highs in an eye-watering rally that catapulted the company into the trillion-dollar club last month.","news_type":1},"isVote":1,"tweetType":1,"viewCount":763,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":28,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"hasMoreComment":false,"orderType":2}