Shulou(Shulou.com)11/24 Report--

Beijing, Nov. 8 (Xinhua) Tesla's share price erased all its gains over the past 17 months as investors continued to sell Tesla shares after Elon Musk bought Twitter.

Tesla shares fell 5 per cent to $197.08 by Monday's close, the lowest level since June 2021 and the biggest contributor to the decline in the s & p.

Tesla shares gave up all their gains over the past 17 months, affected by broader market risk aversion, and Tesla shares have been struggling for most of the year. But the recent decline comes as Mr Musk buys Twitter with a high profile. Musk closed the deal with Twitter on October 27 and has been talking desperately about his plans to reform the platform ever since. Since then, Tesla's share price has fallen by more than 12%. By contrast, the s & p 500 index was virtually unchanged, while the Nasdaq 100 index fell 1.9%.

Meanwhile, ever since Mr Musk expressed interest in buying Twitter, investors in Tesla have been worried that the billionaire is distracting too much from several of his high-profile companies. Investors in particular want him to focus on Tesla, who himself is going through a challenging period. In an inflationary environment, car demand is slowing, supply chain problems remain and raw material costs remain high.

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