Hyperdrive
Tesla Sinks as Euphoria Shifts to Scrutiny on Growth, Valuation
Photographer: Jasper Juinen/Bloomberg
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Investor euphoria around Tesla Inc. shares succumbed to gravity Friday, with one of the biggest catalysts behind automaker’s recent rally now done and dusted.
Tesla shares dropped as much as 9.7% to $1,366.54 in New York, its lowest intraday price since July 8. The stock has lost 14% since the company delivered stronger-than-expected earnings on Wednesday.