Hyperdrive
Tesla Sinks 50% From November Record High as Troubles Pile Up
- Shares close down 7.6%, at half of Nov. 4’s record high close
- Delivery miss, tech selloff, recession fears weigh on stock
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Tesla Inc. shares tumbled about 50% from their all-time high, amid a broader selloff in the US stock market that has hit growth and technology companies especially hard.
The electric vehicle-maker’s shares closed down 7.6% to $204.99 on Friday, taking its market capitalization to $642 billion. The decline has now sliced in half the stock’s Nov. 4 record closing high of $409.97.