Factors such as car recall increased investor concerns, and CEO Elon Musk focused on turning around Twitter, since mid-September this year. Tesla’s market value has evaporated more than 430 billion US dollars (about 3 trillion CNY).
As of Monday’s close, Tesla’s stock price fell 6.8% to close at $167.87, the lowest level since November 2020, and its market value has evaporated by about $38.9 billion (about 278.7 billion CNY).
Prior to this, Tesla announced a recall of more than 320,000 vehicles in the United States due to faulty taillights. At the same time, the epidemic has also put Tesla’s production and sales at risk.
Tesla’s market value has evaporated more than $430 billion in more than two months
Tesla’s shares have lost nearly half of their value in less than two months as supply chain disruptions mount, raw material costs soar and would-be buyers are squeezed by stubborn inflation and rising interest rates.
Data show that since mid-September this year, Tesla’s market value has evaporated by more than 430 billion US dollars (about 3 trillion CNY). Tesla’s market value, which once topped $1 trillion, was down to $530 billion.