Tesla has lost $342B in market value since mid-April. Today, Tesla is trading at its lowest level since late July, dropping more than 8% in midday trading due to sexual-misconduct allegations against CEO Elon Musk.
TSLA has decreased for three consecutive days, losing more than 12% over this period, with a weekly loss of 17%. Musk has denied the allegations, describing them as “wild accusations” and “utterly untrue.”
Business Insider reported late Thursday that SpaceX paid a flight attendant $250,000 in 2018 to settle a sexual-misconduct claim against Musk. In connection with Musk’s plan to purchase Twitter, Tesla stock also appears to bob up and down. The EV maker has lost some $342 billion in market capitalization since Musk announced his intention to purchase the social-media company in mid-April.
Last Friday, Musk announced that the purchase of Twitter had been temporarily delayed, causing the stock to rise by 5%. Later that day, he confirmed that he was still “committed” to the $44 billion transactions.
Also, to be added that Musk has nearly $26 billion in debt commitments from Morgan Stanley and other financial institutions and about $21 billion in equity commitments, including Tesla stock.
The post Tesla Is Still In A Bearish Zone With Elon Musk Accused Of Sexual-misconduct appeared first on Best Stocks.
