Tesla share price climbs, rebounding from Tuesday’s record plunge1 min read . Updated: 09 Sep 2020, 10:29 PM IST
Tesla share price stages some form of recovery a day after plummeted 21%.
(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.
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.
This story has been published from a wire agency feed without modifications to the text.