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Tesla shares are falling in price at the same time as Bitcoin. The value of the shares of the world’s largest electric vehicle manufacturer at the close of trading on the NASDAQ on February 23 fell 8.6% compared to the previous trading session on February 22, stopping at around 714.50 per share (and after the close of the main session – at $ 677.18), and Elon Musk, whose majority of his fortune is in Tesla shares, lost $ 15 billion in one day.
Updated: With the opening of a new trading session, the share price fell to $ 600.
The Tesla boss has once again lost the title of richest man in the world this year, falling to second place in the ranking. The ranking is headed again by Jeff Bezos (owner of Amazon and Blue Origin), whose fortune is $ 186 billion. At the same time, the gap between Musk and Bezos is “only” $ 3 billion, so for the foreseeable future, they may switch places again.
Tesla’s stock prices have risen continuously since early November 2020, when the S&P Dow Jones Indices Committee announced its intention to list Elon Musk’s company in the S&P 500. In early 2021, the price of Tesla shares once again broke an all-time high, reaching $ 900. for a security.
New record: Tesla shares top $ 900 before financial statement with first expected annual profit
But since February, Tesla shares have entered a downtrend. The current drop is the biggest since September 2020. At the same time, like last time, the current drop in prices is partly a price correction after supergrowth, and partly – macroeconomic and market malaise amidst the pandemic. Tesla’s auto business and other businesses are growing at an impressive rate, so it is only a matter of time before the downtrend turns into an uptrend.
The last time Tesla shares hit the bear market in September 2020, and already in November, 60 days after the start of the downtrend, the rate returned to an upward trajectory.
For the first time in history, Tesla reported profits for the year and reached a production capacity of 1.05 million cars per year. The main thing about the report.
