Tesla, a US electric vehicle manufacturer, lost one-fifth of its value in trading on Tuesday, September 9.
At the close of the New York Stock Exchange, the company’s shares fell 21.06% to $ 330.21, RIA Novosti writes.
It is noted that as early as September 1, shares were worth a third more – over $ 498 per share. According to analysts, the decline in the manufacturer’s shares could be influenced by the formation of a “bubble” with an unjustifiably sharp increase, as well as the fact that Tesla did not manage to get into the S&P 500 broad market index last week.
In addition, Nikola and GM announced on Tuesday that they will team up to produce the Badger electric truck, a direct potential competitor to Tesla’s Cybertruck.
Earlier, on August 18, it was reported that Tesla shares rose in price by 11% in a day.