Tesla lost about $199 billion in value during its biggest back-to-back selloff since September 2020 amid a host of negative news.
The drumbeat of adverse headlines reached a crescendo after Elon Musk’s Twitter poll that asked voters over the weekend if he should sell 10 per cent of his stake in the electric-vehicle company was followed by news of his brother Kimbal selling some shares just before the poll.
There was also a Business Insider report on Michael Burry, the investor made famous by “The Big Short” movie, saying Musk may want to sell stocks to cover his personal debts.
Musk has lost