Tesla slips 25% in one week as coronavirus weighs on its China operations (TSLA)

tesla china REUTERS/Jason Lee/File Photo

Tesla has shed 25 percent this week by Thursday’s close as the coronavirus outbreak weighs on the wider market.
On Thursday, Tesla dropped 13 percent when China automobile registration data showed coronavirus has hurt requirement, Bloomberg declared , citing China Automotive Information Net.
There could be further pain before China’s struggling automotive industry and Tesla, which had to close its own Shanghai Gigafactory in February due to the virus outbreak.
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Coronavirus has put an end to Tesla’s quickly rally that sent shares more than 100 percent in only a few months.

Shares of this automaker have lost 25% this week by Thursday’s close since the marketplace reels on fears the coronavirus outbreak in China will hinder growth. In the past six times, the S&P 500 and the Dow Jones Industrial Average have both lost more than 10%, the speediest slip into correction territory as the Great Depression. See the rest of the story at Business Insider

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