Shares of US company Tesla fall by $85 billion. This trading week has proved to be disastrous for Tesla, an American company maker.
Report says, Tesla’s shares closed at the lowest level in 2 years on Friday.
US media reveals, Tesla’s shares fell 18 percent a week to finish Jama.
According to foreign media, shares of US company Tesla fall by $85 billion in Wall Street.
According to reports, Tesla’s market capitalization has come down to $ 400 billion.
Elon Musk sold Tesla’s $ 6.9 billion worth of shares.
Read also: Elon Musk hints at resigning as Twitter CEO
As per foreign media, the reduction in demand for electric cars is the main reason for the loss of sales of shares of Tesla.
Tesla shares closed at their lowest level in more than two years on Friday, pushing its market capitalization below $400 billion. The stock has declined 18 per cent this week.
Shares of Tesla declined by 9 % on Thursday when the company says it would offer US consumers a $ 7,500 discount on their two highest -selling models, from this announcement, with this announcement Consumer demands have raised concerns.
It should note that Tesla is the chief executive officer of the company, Elon Musk, who is also the head of the social media site Twitter.