Tesla sees stock market swoon; coronavirus blamed for car delivery delays

Tesla sees stock market swoon; coronavirus blamed for car delivery delays

Investors put the brakes on Tesla’s recent wild stock surge, and drove the company’s shares down more than 17% on Wednesday in the wake of the electric carmaker saying the coronavirus outbreak in China will cause it to delay deliveries of Model 3 cars made at its production plant in Shanghai.Tesla shares fell by $152.36, to close Wednesday at $734.70 after a company official in China said that early February deliveries of Model 3 cars built at Tesla’s Shanghai Gigafactory will be delayed due to the coronavirus situation in the country. According to CNBC, Tao Lin, vice president of Tesla in Chi…

Read More

Author: HEDGE

Hedge Accordingly was founded ahead of the global financial crisis in January of 2008, with the goal of providing our readers our unique take on latest news on stocks & WallSt. Hedge Accordingly produces both original, and aggregated Wallst news content from top publishers around the world. We curate aggregated content covering the latest news on politics, stocks, wall street, and the tech industry. Click Here for Free stock charting, quotes and a bitcoin, forex and currency exchange. Learn More About Hedge