Tesla shed about $80-billion of its market value on Tuesday, an amount that overshadows the combined value of General Motors and Ford, after its surprise exclusion from the S&P 500 Index.
Browsing: Nikola
General Motors took a US$2-billion equity stake in Nikola and partnered with the truck maker to engineer and manufacture its Badger bakkie, sending its shares soaring in early trading.
Tesla’s eye-popping run has left stock prognosticators in the dust, brought smaller imitators along for the ride and triggered a race by entrants new and old to cash in.
Tesla’s stock jumped above $1 000/share on Wednesday after CEO Elon Musk told his staff it was time to bring the Tesla Semi commercial truck to “volume production”.