Tesla shares suffer worst year ever. And 2023 looks bad, too
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A year ago, Tesla Inc. seemed unbeatable, with its shares near a record high amid soaring optimism for the global electric-vehicle market. Now investors are struggling to see a bottom.
A year ago, Tesla Inc. seemed unbeatable, with its shares near a record high amid soaring optimism for the global electric-vehicle market. Now investors are struggling to see a bottom. The stock was never for the faint of heart, given its volatility and the mercurial style of its chief executive, Elon Musk. Still, the magnitude of this year's rout is staggering: It's lost more than 60% through Tuesday's close, on pace for a record annual decline, and erasing about $626 billion of shareholder value. Two years to the day after Tesla joined the S&P 500 Index, investors are confronting a new...