Why Tesla Stock Continued Its Freefall Today
Tesla (NASDAQ: TSLA) stock has been in freefall, and that accelerated today. Shares of the electric vehicle (EV) leader are now lower by more than 15% so far this year. As of 1:40 p.m. ET, Tesla shares were down by 5.3% on the day.The recent decline comes as CEO Elon Musk has stayed in the spotlight more for his work in Washington, D.C., than at Tesla headquarters. But today's share decline comes from a combination of reasons.Investors received news of what could be yet another distraction for Musk from his work at Tesla. The Tesla CEO is leading a group proposing to buy artificial intelligence (AI) developer OpenAI. Musk was one of OpenAI's founders but has more recently been feuding with Sam Altman. Altman is another of the company's founders and remains its CEO. Musk's $97.4 billion bid for the company was met with defiance from Altman.Continue reading
Tesla (NASDAQ: TSLA) stock has been in freefall, and that accelerated today. Shares of the electric vehicle (EV) leader are now lower by more than 15% so far this year. As of 1:40 p.m. ET, Tesla shares were down by 5.3% on the day.
The recent decline comes as CEO Elon Musk has stayed in the spotlight more for his work in Washington, D.C., than at Tesla headquarters. But today's share decline comes from a combination of reasons.
Investors received news of what could be yet another distraction for Musk from his work at Tesla. The Tesla CEO is leading a group proposing to buy artificial intelligence (AI) developer OpenAI. Musk was one of OpenAI's founders but has more recently been feuding with Sam Altman. Altman is another of the company's founders and remains its CEO. Musk's $97.4 billion bid for the company was met with defiance from Altman.
