Tesla Pauses After Stock Rallies 50% From Its May Bottom
- Electric-vehicle maker still faces supply-chain, China issues
- Shares swung between gains and losses in New York Tuesday
A Tesla store in Barcelona.
Photographer: Angel Garcia/BloombergThis article is for subscribers only.
Tesla Inc. whipsawed Tuesday after a relentless surge that pushed the stock up 50% from its May bottom lost some momentum, with investors broadly souring on growth stocks.
The electric-vehicle maker closed down 0.9% at $919.69 after fluctuating throughout the trading session. It jumped as much as 1.7% earlier in the day, taking the stock up 50% from the May 24 closing low of $628.16. The shares currently remain about 26% below their all-time intraday high of $1,243.49 reached on Nov. 4.