Tesla Set for Deepest Weekly Drop Since Virus-Fueled Selloff
- Stock has lost 15% so far this week and fell below key level
- Elon Musk tweeted company halted car purchases using Bitcoin
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Tesla Inc.’s shares are headed for their worst weekly loss since the coronavirus-driven selloff in March 2020 after falling below a closely watched level.
Investors in the Elon Musk-led electric-vehicle company missed out on the broader recovery in technology stocks Thursday, with shares now down 15% in the four trading days this week. The stock closed down 3.1% at $571.69, below the stock’s 200-day moving average of $582.56.