rises, it rushes into the sky, and when it falls it is almost a flash crash. This may be the recent portrayal of Tesla's stock price.
On the evening of March 9, Tesla's share price surged 12.39%, and its market value returned to above $600 billion .
It is worth noting that before this, as the world's highest market value car company, Tesla's stock price suffered a sharp decline. became the first company to drop more than US$300 billion in just five and a half weeks.
It is reported that this figure is equivalent to twice the combined market value of Ford and General Motors, and is US$100 billion higher than the current market value of Toyota, the world's second largest automaker.
Earlier, according to foreign media analysis, Tesla’s stock price has fallen continuously recently. Strong3strong is mainly related to four factors: the Fed’s “intimidation”, market competition, shortage of automotive chips, and increased spending.
In addition, some people also mentioned that Tesla's large investment in Bitcoin is also the cause of its recent stock price turbulence.
It is understood that at the beginning of last month, Tesla announced the purchase of US$1.5 billion worth of bitcoin. As soon as the news came out, the price of bitcoin directly rose to a record high, and thereafter exceeded US$57,000.
But the turbulence has always been Bitcoin. With the rise in U.S. Treasury yields, the capital market fell sharply, and the decline in Bitcoin prices also led to the decline in Tesla's stock price.
[Source: Express Technology] [Author: Chen Chi]
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