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Tesla Loses All the Gains From 35% Rally Stoked by Hertz Electric Vehicle Deal

  • Pact was revealed Oct. 25, stock has slumped since Nov. 4 peak
  • Shares have fallen as Elon Musk reduced his stake in carmaker
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Photographer: David Paul Morris/Bloomberg
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Tesla Inc.’s stock went on a tear after an October deal with Hertz Global Holdings Inc. signaled broader mainstream adoption of its electric cars.

But that 35% rally is gone now.