Tesla Stock Has Worst Year Ever, Is Down Almost 70 Percent YTD via insideevs.com
Tesla stock has seen a dramatic drop this year, losing almost 70 percent through December 22 year to date.
This means TSLA is on pace for a record annual decline that will see it erase about $626 billion of shareholder value, according toNow investors are struggling to see a bottom, though, with Tesla shares closing at $125.35 on December 22, compared to an all-time high of $409.97 on November 5, 2021—technically $1,229.91 asDecember 2022 is on track to become the worst month ever for Tesla stock, which has tumbled 36 percent so far this month.
As competition from established major automakers is intensifying, Tesla's dominant market share is threatened, and the stock price reflects that to an extent.
Despite the stock's massive drop from a year ago, Tesla remains the most valuable automaker in the world, with a market cap of almost $396 billion on December 22. That's far bigger than any other major global carmaker, with Toyota—the second-biggest—valued at about half that.
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