Not too long ago, Tesla (NASDAQ:TSLA) stock was outperforming other growth stocks. Amid the crash of the speculative, disruptive names, software stocks, and SPACs, it seemed like Tesla was a safe haven. Until recently, TSLA stock was still trading near the $1,000 per share mark and was up year-over-year even as other tech names were starting to plunge.
However, Tesla’s shares have since gotten caught up in the whirlwind. Its shares have fallen by double-digit-percentage levels in recent weeks and briefly skidded below the $750 mark following the Russian invasion of Ukraine.
Much of Tesla’s recent decline can be blamed on the market’s recent skid. However, company-specific news has contributed to the stock’s slide as well. Specifically, it appears that the selling of TSLA stock by a member of the Musk family last fall may end up coming back to bite the company. Here are the relevant details.
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