Tesla’s Post-Twitter Selloff Pushes Stock to a 17-Month Low
- Investors grow concerned about CEO Musk’s Twitter takeover
- Shares are biggest weight on S&P 500, down 12% since Oct. 27
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Tesla Inc. erased all of its gains from the past 17 months as investors continue to sell off the stock in the wake of Chief Executive Officer Elon Musk’s purchase of Twitter Inc.
The electric-vehicle maker’s shares closed down 5% to $197.08 in New York Monday, at the lowest level since June 2021. It was the biggest contributor to the benchmark S&P 500 Index’s losses.