The nosedive of Tesla’s stock remains challenging and “keeps getting worse,” analyst Todd Stern told CNBC. ‘And I think, with all the news we’ve got, we’re seeing a real spike in buying.’
Tesla CEO Elon Musk has been on the losing track of what could become an “average” profit, analysts are now warning.
Tesla shares plunged as the day progressed following the news of its stock being down more than 6% to about 8.45 ln, while shares of Apple, Google, Microsoft, and Facebook were down about 5% in the same period.
The stock had also surged by about 12% on Friday, the highest since it soared from $40,600 in January to $40,300 as well as a high of $27,400 in February.
Tesla shares were at least as high on Friday as they were on Wednesday.
Tesla’s stock had grown about 6% from $40,640 on Tuesday and down 10% to $50,000 in the previous quarter.