Tesla share price climbs, rebounding from Tuesday’s record plunge

Tesla Inc. shares rose on Wednesday, clawing back a fraction of the value it lost a day earlier when the electric-vehicle maker’s stock suffered its worst one-day decline in its history.

Tesla CEO Elon Musk pictured. (REUTERS)
Tesla CEO Elon Musk pictured.

Also Read : How Elon Musk lost record $16.3 billion in a day)

The car company led by Elon Musk plummeted 21% on Tuesday -- its biggest drop since going public in 2010 -- after it was passed over for inclusion in the S&P 500 Index Friday. The slump, which came amid a widespread selloff that saw tech firms leading the declines, wiped out $82 billion in Tesla’s market value.

Also Read : How Lucid Motors plans to spin Tesla-killing strategy out of Air electric sedan

The Nasdaq 100 Index was also recovering Wednesday, adding 2.2%. Tesla gained as much as 8.4% to $357.88 in New York. The stock has quadrupled this year. The company has overcome production snarls and posted its fourth consecutive profitable quarter. It also received a boost amid optimism for its Battery Day event later this month.

First Published Date: 09 Sep 2020, 20:22 PM IST
Shopping Bag Shop Now
70% OFF
VENO Portable High Power 2 in 1 Car Vacuum Cleaner | USB Rechargeable Wireless Handheld Car Vacuum Cleaner Traveling, Camping Reusable and Sustainable (2 in 1 Vacuum Cleaner)
Rs. 899 Rs. 2,999
5% OFF
Godrej aer O – Hanging Car Air Freshener | Car Accessories | Cool Aqua (7.5g)
Rs. 94 Rs. 99
68% OFF
PUNZONE Car Body Scratch Remover - Scratch Repair Polishing Wax Kit Sponge Body Compound Cream Wax, Car Body Compound Scratch Remover
Rs. 289 Rs. 898
65% OFF
Ambrane 38W Fast Car Charger with Dual Output, Quick Charge 3.0 and Power Delivery, Type-C & USB Port, Wide Compatibility for Smart Phones (RAAP C38 A, Black)
Rs. 349 Rs. 999

Please provide your details to get Personalized Offers on

Choose city
+91 | Choose city
Choose city
Choose city
By clicking "View Offers" you Agree to our Terms and Privacy Policy

Dear Name

Please verify your mobile number.

+91 | Choose city
Couldn't verify the OTP.
It's either expired or it's incorrect.