Green Stock Selloff Deepens as Tesla Sentiment Sours
Tesla is seen losing its place among the 10 largest companies in the S&P 500, almost half of survey respondents say.
More questions raised about the outlook for climate-related stocks, with Tesla shares in the crossfire.
Photographer: Liesa Johannssen-Koppitz/BloombergThe selloff that’s ripped through green stocks looks set to continue into 2024, bringing a fourth consecutive year of losses, according to Bloomberg’s latest Markets Live Pulse survey.
The negative sentiment appears poised to engulf a wider array of green asset classes, with Tesla Inc. seen at risk of losing its place among the 10 biggest stocks in the S&P 500. Almost two-thirds of the 620 MLIV Pulse respondents said they plan to stay away from the electric-vehicle sector, and 57% expect the iShares Global Clean Energy exchange-traded fund — which is down about 30% this year — to extend its slide in 2024.