Tesla shares fell again on Monday (15), taking the market value of the maker of electric cars to below US$ 1 trillion (R$ 5.4 trillion) for the second time in four sessions.
Tesla’s shares were down 4.2% at 1:29 pm, quoted at US$ 990.68 (R$ 5,368.79). According to Reuters, the share’s fall to less than US$995.75 (R$5,396.26) put the company’s market value below US$1 trillion, a milestone it reached at the end of last month. after news of his biggest order, from the Hertz car rental company, helped fuel a strong recovery.
For comparison, Microsoft is worth about $2.52 trillion (BRL 13.6 trillion), Apple, $2.4 trillion (BRL 13 trillion) and Amazon, $1.78 trillion (BRL $9.6 trillion). Facebook is valued at approximately $950 billion (BRL 5.1 trillion).
Tesla’s losses deepen after a week of slumps caused by its chairman, Elon Musk, as he unloads $6.9 billion (34.7 billion) of shares on the market. Just last week, Tesla lost US$ 187 billion (R$ 1 trillion) in market value, when it retreated 2.49%.
The drop comes in the wake of a Twitter discussion between Musk and US Senator Bernie Sanders after the politician demanded that the rich pay their “fair share” of taxes.
“Want me to sell more shares, Bernie?” Musk replied in reply to Sanders.
Musk had already promised to sell 10% of his stake in the automaker, which would lead him to rack up a billion-dollar tax bill, according to Kunal Sawhney, chief executive of equity research firm Kalkine Group.
The richest man in the world also asked a Twitter user not to read too much of PepsiCo’s chief executive Ramon Laguarta’s comments about his first delivery of Tesla trucks in the fourth quarter.
“As mentioned publicly, Tesla is limited by short-term chip supply and long-term cell supply,” Musk tweeted. “It is not possible to produce additional vehicles in volume until both restrictions are resolved.”
Meanwhile, investor Michael Burry, famous for being one of the first investors to bet against mortgage bonds before the 2008 crisis and for being portrayed by Christian Bale in “The Big Bet”, said on Twitter that Musk “only wants to sell the Tesla’s shares”.
Tesla weathered the pandemic and global supply chain crisis better than its rivals, posting record revenue for the fifth straight quarter.
with Reuters
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