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Nissan Shares Drop After Musk Denies Tesla Investment Report
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Shares of Nissan Motor Co. plunged as much as 10%, the most in three weeks, after Tesla Inc. Chief Executive Officer Elon Musk dismissed a report that he was interested in investing in the ailing carmaker.
Nissan’s stock jumped 9.5% on Friday after a Financial Times report that a high-level Japanese group was planning to seek investment from Tesla, on the belief it was interested in the automaker’s US plants. Musk later deflected the report in several posts on social media platform X, saying it was “fake news” and that Tesla’s “Cybercab production line is like nothing else in the automotive industry.”