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George Ma
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Finance
February 6 14:52

Tesla shares fell by almost 18% after a two-day rise

The company's capitalization fell by US$30 billion in a day
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Tesla shares fell by almost 18% after growing at 20% for two consecutive days. By 03:53 am Singapore time, the company's shares fell by 17.74% to US$729.7. The company's capitalization fell by US$30 bln to US$131.49 bln over the day.

If the stock falls by more than 19.3% on February 5, it will exceed Tesla's biggest one-day loss in 2012 and become the worst day in the company's history, CNBC said.
The company's CFO, Zack Kirkhorn, told investors on January 29, 2020 that the new plant in Shanghai will be closed for about a week due to government restrictions caused by the coronavirus. "This may have a slight impact on quarterly profitability," Kirchorn said.
On February 5, Tesla vice president Tao Lin said the delivery of electric vehicles from the Shanghai factory, scheduled for early February, will be delayed, reports CNBC. “This may slightly impact profitability for the quarter but is limited as the profit contribution from Model 3 Shanghai remains in the early stages,” Lin said in the Chinese service Weibo.
On February 3 and 4, Tesla shares rose 20% on the back of a successful year and positive outlook. The price rose to a high of US$940.13 per share.