4 reasons Tesla's stock is tumbling
CNN
Tesla, the hottest stock in the market for more than a year, has sunk into bear market territory.
Shares of Tesla (TSLA) fell 6% Tuesday after closing down 8.5% Monday, wiping out its gains for the year. The stock closed at a record just above $883 on January 26 and has tumbled since. It fell low as $619 Tuesday, the first time Tesla shares have fallen below $700 since December 31. The steep decline has taken Tesla shares below their level when the company entered the S&P 500 on December 21. It also knocked CEO Elon Musk into the No. 2 position in the richest person on the planet list, behind Amazon (AMZN) founder Jeff Bezos. The two have been swapping positions repeatedly this year.More Related News
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