Why Tesla Shares Hit a 2-Year Low Today
Tesla (NASDAQ: TSLA) shares continued a recent slide, hitting a two-year low Monday. As of 2:25 p.m. ET, the stock was down 6.8% to about $168 per share. That's the lowest level since November 2020.
The reasons for today's decline are some of the same that have contributed to the more than 40% drop in the stock over the last three months. But there are some new developments as well.
Investors have been shedding Tesla shares as CEO Elon Musk has had to sell some of his own this year to fund his Twitter acquisition. Musk has sold about $19 billion in total related to the Twitter purchase in 2022. He has also had to put his time and energy into the social media company recently.
Source Fool.com
