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Why Tesla Stock Fell Sharply Friday

TheMotleyFool

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Shares of electric-car maker Tesla (NASDAQ: TSLA) tumbled on Friday, declining as much as 10.4%. As of 12:42 p.m. EDT, however, the stock was down 5.7%.

The stock's decline extended a massive pullback in the price recently. Shares are now down 45% from an all-time high achieved earlier this year. The decline on Friday may be part of a broader correction as investors reconsider the electric-car maker's valuation after a huge run-up exiting 2019 and in the beginning of 2020.

Tesla's factory in Fremont, California. Image source: The Motley Fool.

Source Fool.com

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