Tesla Shares Plummet $50-Billion
- 4 years ago
Business Insider reports that Tesla lost around $50 billion of its value.
The drop came after its founder Elon Musk said it would take until 2022 for Tuesday's "Battery Day" announcements to reach high-volume production.
Tesla closed 6% lower on Tuesday and a further 7% in after hours trading.
Musk said he is eyeing a cheaper vehicle with a target price of $25,000, and planning to build 20 million vehicles.
The drop came after its founder Elon Musk said it would take until 2022 for Tuesday's "Battery Day" announcements to reach high-volume production.
Tesla closed 6% lower on Tuesday and a further 7% in after hours trading.
Musk said he is eyeing a cheaper vehicle with a target price of $25,000, and planning to build 20 million vehicles.