Hyperdrive
Tesla Investors See ‘There’s No Floor’ After Losing $200 Billion
- Shares on their longest weekly losing streak since 2016
- Two analysts downgraded stock since results, many cut targets
Tesla cars sit parked in a lot at the Tesla factory in Fremont, California.
Photographer: Justin Sullivan/Getty ImagesThis article is for subscribers only.
Tesla Inc. investors haven’t had a stretch this bad in a long time.
Shares of Elon Musk’s electric-vehicle giant have dropped 26% this month, wiping out $205 billion in market valuation. The stock is on pace to close lower for the sixth straight week, its longest losing streak since 2016. For perspective, at that point Tesla hadn’t even launched its first mass-market car, the Model 3.