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The Musk Factor: Why Is Tesla Stock Down 5.5% Today?

John Parker
The Musk Factor: Why Is Tesla Stock Down 5.5% Today?

On August 7, Tesla (TSLA) stock surged 11.0% to $379.57 after CEO Elon Musk’s tweet about taking the company private. However, the stock couldn’t sustain these gains as its stock fell 2.4% on August 8. Today at 3:10 PM EDT, TSLA stock fell 5.5% to $350.11. Auto stocks (XLY) General Motors (GM), Ford (F), and Fiat Chrysler (FCAU) returned -0.4%, -1.2%, and -1.5%, respectively, on the day.