Continuing its rollercoaster ride, Tesla Motors’ stock price has dropped dramatically over the last few weeks. Tesla’s stock price was nearing its record high just last month.
Following positive third quarter results, Tesla’s stock climbed to $28.15 – well above its IPO price of $17. However, the company’s 180-day, post-initial public offering restriction on stock sales has officially ended, allowing initial investors to unload their shares.
As a result, the automaker’s stock tumbled 15.1 percent in Monday’s trading. At the closing bell, Tesla’s stock was valued at $25.55.
Although still well above Tesla’s IPO price, it remains to be seen if the skid will continue through the New Year. A sliding stock could worry investors, possibly delaying the company’s future EV plans.
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1.’Tesla Motors stock…’ view
