Business
Tesla taper: The poster stock of irrational investing comes crashing to earth – Sydney Morning Herald
Elon Musk’s Tesla stake fell $US27 billion in one week as the over-hyped stock decoupled from the rest of the tech sector.
Not even the anticipation of Joe Bidens $US1.9 billion stimulus package could avert Tesla founder Elon Musks come to Jesus moment.
The US stock markets major indices received a serious shot in the arm on Friday as technology stocks, which had been under pressure for a couple of weeks from the threat of rising interest rates, bounced back 1.6 per cent.
But not Tesla whose share price trajectory decoupled from the tech-heavy Nasdaq index and continued to fall. Musk must have broken all wealth records…
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