Tesla Sheds Almost $200B In Market Value Amid Recession Fears And Internal Woes – One-Fifth Of Its Peak Value
Portfolio Pulse from Benzinga Neuro
Tesla Inc. (NASDAQ:TSLA) has lost nearly $200 billion in market capitalization, a fifth of its peak value. The drop is attributed to inflation, increased interest rates, potential recession fears, and internal company issues. Tesla's market cap is now approximately $730 billion. Additionally, Ark Invest has decreased its Tesla holdings by over 17.6%, indicating a possible loss of faith from one of Tesla's major supporters.
August 24, 2023 | 5:34 am
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Tesla's market cap has dropped significantly due to external economic factors and internal company issues. Ark Invest, a major supporter, has reduced its holdings in Tesla.
The drop in Tesla's market cap is due to a combination of inflation, increased interest rates, potential recession fears, and internal company issues. These factors are likely to negatively impact Tesla's stock price in the short term. Additionally, the reduction in Tesla holdings by Ark Invest, a major supporter, could further negatively impact the stock price.
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