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Tesla closes below $600 since December

Posted March. 08, 2021 07:38,   

Updated March. 08, 2021 07:38


The U.S. electronic carmaker Tesla’s stock price almost reaching 900 dollars per share tumbled below 600 dollars in just three months. The anxiety is growing among Korean investors who bought the stocks worth more than nine trillion won.  

Tesla closed at 597.95 dollars, 3.78 percent lower than the previous day in the New York Stock Exchange on Friday (local time). It is a fall of 285.14 dollars from the highest price on January 26 (883.09 dollars). The market capital also fell from 837 billion to 574 billion dollars.  

Financial investment circles are coming up with analyses that the company is more heavily swayed than other tech companies as the global stock market goes through quite the turbulence as the U.S. bond yield increased. It is because the stock price rally was unprecedentedly strong last year, and borrowing costs may increase due to the increase in the bold yield. Some are concerned that competition may get fiercer as traditional carmakers such as General Motors and Volkswagen are advancing into the electronic vehicle market.  

Domestic analysts have diverging opinions on Tesla’s stock price, with some saying that the bubble is popping while others saying it is an opportunity to buy more stocks.