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aus+uk / uk.current-events.terrorism / Tesla value down almost $100 billion

Tesla value down almost $100 billion

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From: the.happ...@ntlworld.invalid (The Happy Hippy)
Newsgroups: uk.current-events.terrorism
Subject: Tesla value down almost $100 billion
Date: Sat, 13 Jan 2024 20:16:22 +0000
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by: The Happy Hippy - Sat, 13 Jan 2024 20:16 UTC

https://fortune.com/2024/01/13/tesla-market-valuation-falls-2024-elon-musk-net-worth-drops/

Tesla has lost more than $94 billion in market valuation in just the first two weeks of 2024.

It's not hard to figure out why, as the Austin, Texas-based EV maker has been pounded by a barrage of negative news: an about-face on EVs from the car rental giant Hertz Global Holdings Inc., yet another price cut for its cars made in China, and signs of rising labor costs.

The hit to Tesla's market capitalization to start the year is the biggest the company has seen over a similar period since it went public in 2010. In percentage terms, Tesla's 12% drop since the start of January is the worst since 2016, when the stock fell 14% over the first nine trading days of the year.

To make matters worse, the odds of an imminent turnaround for the EV maker don't look good.

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Subject	Author
Tesla value down almost $100 billion	The Happy Hippy