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Tesla Stock Hits 28-month Low Amid Post-Twitter Sell-off
(RTTNews) - Shares in Tesla are at a 28-month low as investors continue to sell stock of the luxury electric car maker after its CEO Elon Musk acquired social-media company Twitter, Inc. in April. The performance of Tesla has been on a down track since the Twitter deal with Musk seemingly focusing more on Twitter as its CEO.
The Tesla stock hit an all-time high of $407.36 in November 2021 and has since lost more than 70 percent as of date. The stock has traded in the range of $121.02 to $402.67 in the past 52 weeks.
The stock is trading in Tuesday's pre-market session at $115.65, down $7.31 or 5.94 percent.
The stock has been steadily declining after it hit a recent high of $381.82 on April 4, when Musk revealed a 9.2 percent stake in Twitter. Musk finally completed the acquisition of Twitter in a deal valued at $44 billion in October.
Musk has also sold more than $39 billion worth of Tesla stock since the company's market capitalization peaked.
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