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Photo = REUTERS
Tesla’s stock price plummeted more than 20%, after facing a series of bad news. It is the largest ever made in a single day.
On the 8th (local time) on the New York Stock Exchange in the United States, the price of Tesla shares fell 21.1% to $ 330.21.
Tesla, whose price fell 16.1% until last Friday after announcing a capital increase of 5 billion dollars on Day 1, sank further on the news that it was not included in the S&P 500 index since the close of the market last Friday.
The atmosphere of great concern about share price overheating, such as the large-scale purchase of technology stock options by the Japanese SoftBank, is interpreted as contributing to the rise in share prices of IT companies and it also helped bring down the Tesla share price on this day.
On this day, big tech stocks like Apple (-6.7%), Microsoft (-5.4%), Amazon (-4.4%), Facebook (-4.1%), the parent company of Google Alphabet (-3.7%) all fell at the same time. I couldn’t escape the slowness.
Additionally, the news that General Motors (GM) invested $ 2 billion to acquire 11% stake in Tesla rival Nikola, instigating downward pressure from Tesla. With this news, Nicolas was up 40% in the stock market that day, and GM was also up 8%.
Through this capital investment, the two companies decided to produce a ‘flagship’ van powered by an electric battery or hydrogen fuel cell by the end of 2022 at the latest. Reuters reported that “Nicola is competing with Tesla’s cyber truck” and “General Motors has teamed up with startup Nikola.”
As Tesla enters the adjustment phase, the concerns of individual domestic investors who recently bought the stock in bulk are also deepening.
According to the Korean Securities Depository the day before, Korean investors bought overseas shares worth $ 94.96 million (about 1,126.7 million won) through the 4th of this month. The average is 281.6 billion won per day.
Tesla was the most bought stock during this period. It bought a whopping $ 490.37 million (about 582.1 billion won) in net purchases. It was followed by Apple ($ 225.33 million), NVIDIA ($ 157.07 million), Amazon ($ 129.43 million) and Facebook ($ 2.663 million). The net purchase of these five shares was $ 1.05.83 million (approximately 1,254.9 billion won), which is higher than the total net purchase ($ 94.96 million).
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