Many investors have lost faith in Tesla and have recently sold shares. On Tuesday alone, the stock fell 11.4% and the price is now lower than it has been in 28 months.
Tesla founder Elon Musk’s takeover of Twitter, which cost him just over NOK 430 billion, has likely contributed to investor skepticism.
While just over a year ago the Tesla share traded for around NOK 4,000, on Tuesday it traded for less than NOK 1,100 at today’s dollar rate.
Since the new year alone, according to Reuters, Tesla’s value has fallen by 69%.
At the stock market close on Tuesday, the electric car maker was valued at NOK 3.356 billion, just over NOK 450 billion lower than at the stock market close on Monday.
