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CountryA report by the Financial Times indicated that the market value of Elon Musk’s Tesla company decreased over the past week by $85 billion and is now worth less than $400 billion.
The report notes that at the close of trading on December 23, shares of the electric vehicle manufacturer fell to a record low in the past two years and reached $123.15.
According to the report, the decline comes as a result of Musk’s announcement of selling securities to purchase the social network “Twitter”. In addition, investors are concerned regarding the prospects for car sales. This is due to offering discounts of $7,500 on two of the most sought-following Tesla models in the United States.
Source: FNA
