{"id":36582,"date":"2022-11-22T00:03:45","date_gmt":"2022-11-22T05:03:45","guid":{"rendered":"https:\/\/autosector.com\/?p=36582"},"modified":"2022-11-22T00:03:45","modified_gmt":"2022-11-22T05:03:45","slug":"tesla-stock-price-drops-china-covid-twitter","status":"publish","type":"post","link":"http:\/\/autosector.com\/?p=36582","title":{"rendered":"Tesla stock rout accelerates over recall, Covid in China, Twitter chaos – Autoblog"},"content":{"rendered":"

The rout in Tesla<\/a> shares is accelerating as a recall and signs of China<\/a>\u2019s return to Covid Zero curbs adds to a litany of investor concerns, with Chief Executive Officer Elon Musk<\/a> focused on turning around Twitter Inc.\u00a0<\/p>\n

The electric-vehicle maker\u2019s stock dropped as much as 6.5% to $168.52 in New York on Monday, on pace to close at the lowest since November 2020. Trader anxiety was higher after a city near Beijing returned to lockdowns, putting both production and sales at risk. Tesla also initiated a recall of more than 300,000 cars<\/a> due to faulty taillights.\u00a0<\/p>\n

\"\"<\/p>\n

Tesla\u2019s shares have lost nearly half of their value in less than two months as supply-chain snarls mount, raw-material costs soar and potential buyers feel the squeeze of stubborn inflation and rising interest rates.<\/p>\n

On top of that, Musk has been preoccupied by his newly acquired social-media platform, leaving some investors to worry that Tesla\u2019s strategy may fall to the wayside.\u00a0<\/p>\n

\u201cWeakening macro data in China is leading to concerns on Tesla, who has already lowered price once to stimulate demand and has a heavy export output in the first half of fourth quarter,\u201d Cowen analyst Jeffrey Osborne wrote in a Friday note.<\/p>\n

The analyst added that hedge funds seem to be shifting to a negative bias on the stock due to risk there\u2019s been \u201ca loss of focus\u201d on Tesla since Musk acquired Twitter.\u00a0<\/p>\n

The company\u2019s recent stock decline marks a major retracement of several milestones reached during its meteoric rise in 2020 and 2021.\u00a0<\/p>\n

Tesla was supplanted as the fifth-most valuable company on the S&P 500 Index by old-economy stalwart Berkshire Hathaway Inc. earlier this month.\u00a0<\/p>\n

The car company, which lost its trillion-dollar-valuation status in late April, only needs its shares to tumble another 6.5% from current levels for the valuation to drop below $500 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"

The rout in Tesla shares is accelerating as a recall and signs of China\u2019s return to Covid Zero curbs adds to a litany of investor concerns, with Chief Executive Officer Elon Musk focused on turning around Twitter Inc.\u00a0 The electric-vehicle maker\u2019s stock dropped as much as 6.5% to $168.52 in New York on Monday, on […]<\/p>\n","protected":false},"author":1,"featured_media":36583,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[2],"tags":[],"class_list":["post-36582","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry"],"_links":{"self":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts\/36582","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=36582"}],"version-history":[{"count":0,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts\/36582\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/media\/36583"}],"wp:attachment":[{"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=36582"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=36582"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=36582"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}