75 Elon Musk-led Tesla was knocked out of a key US stock index’s top 10 companies on Tuesday after its shares plummeted 11 per cent in just one session. Tuesday was Tesla’s seventh day on a losing streak, its longest since 2018. Elon Musk’s decision to halt production at Tesla’s Shanghai factory and reports of reduced output at its key production units are being cited as immediate reasons for Tesla’s nosediving shares. Furthermore, reports that Tesla was offering individuals in the United States a $7500 discount for its two highest-volume models didn’t impress Tesla investors in addition to the signs of slowing demand. You Might Be Interested In Take a look at the world’s biggest stock winner of 2022 with 1,600% gain Asian stocks fall and Europe subdued ahead of central banker speeches Inflation accelerates in August for 1st time in 7 months The Gap Inc.’s Resurgence: Crushing Q3 Expectations, Eyeing Holiday Season Triumph Vietnamese Electric Automaker Vinfast Soars In Value, Then Stock Price Plunges In Wild Trading Coal Ministry Reports September Surge, National Coal Index Reaches 143.91 Points
