Naija Tech News (NTN) on 03, and in content, Tesla’s market value evaporated over $47 billion in two trading days, market value, Tesla .
On September 3, according to foreign media reports, Tesla’s stock price, which fell nearly 5% on Tuesday, continued to fall on Wednesday, and the decline has expanded to nearly 6%. Its market value has shrunk by more than US$47 billion in the past two trading days .
At the close of the US stock market on Wednesday, Tesla reported $447.37, a decrease of $27.68 or 5.83% from the $475.05 at the close of the previous trading day.
The stock price fell by nearly 6%, and Tesla’s market value has also shrunk significantly. At the price at the close of trading on Wednesday, Tesla’s market value is 416.863 billion U.S. dollars, which is a decrease of 25.793 billion U.S. dollars from the previous transaction’s 442.656 billion U.S. dollars.
The fall on Wednesday was the second trading day after Tesla’s 1:5 stock split. Tesla’s stock price fell 4.67% on Tuesday, and its market value shrank $21,683 million from the previous trading day.
Tesla’s 1:5 stock split plan was implemented after the market closed last Friday. The stocks after the split started trading on Monday. On the first trading day after the stock split, Tesla reported 498.32 US dollars, an increase of 12.57%, the market value increased by 51.846 billion US dollars, reaching 464.339 billion US dollars.
But after the first trading day after the stock split, Tesla’s stock price continued to fall in the next two trading days. After two consecutive declines, Tesla’s market value has shrunk significantly. The market value at the close of trading on Wednesday was $47.476 billion lost from the market value at the close of trading on Monday.
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