Hyperdrive
Tesla Erases $50 Billion in Market Value as Its Investor Day Disappoints
- Shares fall as much as 8.3%, biggest drop since Jan. 3
- JPMorgan says event lacked metrics to track progress
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Tesla Inc.’s much-awaited investor day failed to live up to the hype, and the shares of the electric vehicle maker are paying the price.
Share price of the Elon Musk-led company tumbled as much as 8.3% to $186.01 in New York on Thursday, the biggest intraday plunge since Jan. 3.