The company’s capitalization fell from $321 billion to $277 billion.
The share price of Tesla Inc. at the close of trading on the new York stock exchange on Monday, July 13, fell to $1497 per share with a record $1794, recorded in the first hours after the open, reports the Chronicle.info with reference to the Correspondent.
As a result, the capitalization of the company in just a few hours was reduced from $321 billion to $277 billion.
The previous increase in the cost of Tesla stock is associated with the publication of the report of the company on the growth of car sales in the second quarter: 90 650 instead of 72,000, who had expected the stock analysts.
Also the demand for stocks fueled rumors about the imminent inclusion of Tesla in the stock market index S&P 500.
Tesla shares on 1 June for the first time exceeded $1000, then for a month their cost has increased by 70%. In this case the expected financial analysts, the average price for Tesla stock in 2020 is $805.
According to the analyst of the investment Bank Morgan Stanley’s Adam Jonas, the value of the Tesla stock is overvalued by 100%. “To justify the current share price, the company needs to sell 4 million vehicles a year. Yet she only sold 500 000”, — he explained in the comment to the edition of the Observer.