News – UK – Tesla stock plunges deep into bear market territory

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shares of Tesla Inc
TSLA,
-518%
fell 105% to $ 64000 in morning trading Tuesday, and have now plunged 275% from their record high to put them on track to suffer their second bear market in less than six months. Many on Wall Street define a bear market as a decrease of 20% or more on a close basis from a significant peak A closing price below $ 70647, which is 20% below Jan if a record close of $ 883 09 is 26, would make the bear market official. The last time the stock entered a bear market was Sept. 8, 2020 when it closed at $ 33021, or 337% off the then record closing of $ 49832 on Aug 31 The stock rose to a new record in November 19 Tesla’s stock is still up 225% in the past three months, during the S&P 500
SPX,
-086%
Gained 6.9% Among Tesla’s colleagues in the electric vehicle space are stocks in China-based Nio Inc
NOK,
-696%
took a 136% dip in morning trade after closing Monday 19 4% below its Feb. 9 Record Closing of $ 62 84 XPeng Inc
XPEV,
-487%
and Li Auto Inc
LI,
-710%
both fell on Dec. to Bear Markets 1, while Nikola Corp Shares
NKLA,
-674%
Closed Monday 738% off the record close of $ 7973 on Jan. June 2020

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Tomi Kilgore is MarketWatch’s assistant editor for investments and corporate news and is based in New York. You can follow him on Twitter @TomiKilgore

Stock, Tesla, Inc, NIO, electric vehicle, stock exchange, NASDAQ: TSLA

News – GB – The Tesla share falls deep into the bear market area
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Source: https://www.marketwatch.com/story/tesla-stock-tumbles-toward-2nd-bear-market-in-less-than-6-months-2021-02-23