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Tesla’s second-largest shareholder cuts its stake in half

Luke Stangel
Tesla’s second-largest shareholder cuts its stake in half

Leading Tesla Inc. investor T. Rowe Price cut its stake in the Palo Alto-based automaker in half in the fourth quarter, and now owns just 8.97 million shares, according to a new regulatory filing. T. Rowe Price entered the fourth quarter with 17.38 million shares of Tesla, worth about $5.4 billion. It was once the company’s second-largest investor, behind Tesla CEO Elon Musk.