Tesla shares fell 21 percent yesterday. This was the steepest decline the publicly traded firm has experienced in 10 years. Along with yesterday’s decline, Elon Musk also recorded the most wealth-losing person to date, with $ 16.3 billion in one day.
Shares in Tesla, the US electric car maker, continue to sell hard after it was not included in the S&P 500 Index.
Investors who expected the company to be included in the index went on sale after this decision.
Tuesday’s March saw shares in Elon Musk’s company Tesla fall as much as 21 percent, posting its strongest day of internal losses since early March.
The decline began in pre-opening trading, Bloomberg reported, and led to General Motors Corp.to regulate and expand the production of the Badger brand pickup truck manufacturer Nikola Corp.it gained momentum after it announced it would buy $ 2 billion worth of shares from the company.
Electric vehicle maker Tesla was expected to add to the Standard & Poor’s 500 (S&P 500) Index on Friday, but S&P Dow Jones Indices, which oversees indexes in the U.S., added online retail company Etsy, semiconductor equipment maker Teradyne and medical technology company Catalent to the index instead of Tesla.
$ 82 BILLION MELTED IN ONE SESSION
With yesterday’s decline, the Tesla CEO’s wealth also fell to $ 82.2 billion, from $ 16.3 billion in just 1 day. Elon Musk won the title of the most money-losing person in one day with this fall.