[서울신문] Tesla stock plunged another 6%… Market capitalization of 227 trillion won evaporated in a month

36% decline from the highest in January

The share price of Tesla, an electric car maker in the US, fell again.

On the 8th (local time), while US tech stocks fell all at once, Tesla also plunged close to 6%. As a result, Tesla fell for the fifth consecutive day.

Tesla closed the market at $563, a drop of 5.84% from the previous trading day.

On this day, the NASDAQ index recorded 12,609.16, a sharp decline of 310.99 points (2.41%) from the previous trading day. While technology stocks fell all at once, Tesla, the leading US technology stock, led the downtrend.

Tesla started rising to $618 right after opening on that day, but it turned downward around 10 o’clock. After that, it continued to decline and ended with a sharp decline of close to 6%.

Compared to when the stock price peaked at $883.09 on January 26, it plunged 36%. The market capitalization also evaporated 244 billion dollars (227 trillion) in the last month.

Tesla’s sharp decline for more than a week in recent years is analyzed because government bond yields (interest rates) are rising, and Tesla’s operations are disrupting due to a shortage of semiconductors.

Elon Musk, Tesla’s CEO, recently said, “The company’s Fremont plant has been shutting down for two days due to a lack of components such as semiconductors.

After Tesla’s share price fell for the fifth consecutive day, Reuters reported that Musk’s fortune, which owns about 20% of Tesla’s shares, disappeared by about $43 billion (49 trillion won) over the same period.

Dan Ives, an analyst at Wedbush Securities, said that investors have “sold off EV stocks in the past month without accusations. It is Tesla that the weakness of electric vehicle stocks is typical.”

Reporter Lee Bo-hee [email protected]