Tesla’s Stock Surge Hits $4.1 Billion Pothole in October
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Tesla Motors Inc. suffered its biggest one-month loss of market value in October amid concern among some investors that a fivefold stock-price surge outpaced the growth prospects for Elon Musk’s electric-car company.
Tesla dropped 17 percent in October, its first monthly decline since February and biggest since December 2010. That cut the market capitalization for the Palo Alto, California-based carmaker to $19.4 billion from its peak of $23.5 billion on Sept. 30. The $4.1 billion decline in value exceeds its $4 billion market valuation at the start of 2013.