Tesla Stumbles as Bitcoin Gives Back Gains By Investing.com

Tesla Stumbles as Bitcoin Gives Back Gains

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Tesla Stumbles as Bitcoin Gives Back Gains

By Liz Moyer

Investing.com -- Tesla Inc (NASDAQ:TSLA) fell as much as 10% on Tuesday morning, continuing its Monday decline after questions about its growth prospects with rival automakers entering the electric vehicle market.

The shares recovered some of their losses, and were trading down 7.8% just after 10:00 AM ET. Tesla shares are up 250% over the last year but have retreated back below the level where they entered the S&P 500 index in December.

Its not helping that Bitcoin is also down some 11% on Tuesday, around $47,800, after spiking above $55,000 in recent days. Tesla said this month it had bought $1.5 billion of bitcoin, an announcement that sent the cryptocurrency soaring.

But adding to the downward pressure was a comment on Monday by Bayerische Motoren Werke AG (MI:BMW) CEO Oliver Zipse, as reported by Bloomberg. Zipse said during a conference that established automakers are coming out with more EV offerings. “It won’t be easy for Tesla to continue at that speed because the rest of the industry is moving ahead big time,” Zipse said during the DLD All Stars tech conference, Bloomberg reported.

US STOCKS-Fueled by tech, Wall Street rebounds at end of volatile week By Reuters - Mar 05, 2021

(For a Reuters live blog on U.S., UK and European stockmarkets, click LIVE/ or type LIVE/ in a news window.) * Oracle rises on Barclays upgrade * Nasdaq set for third straight...

GLOBAL MARKETS-Wall Street surges on jobs data, global equity markets regain ground By Reuters - Mar 05, 2021

(New throughout, updates prices, market activity and comments) By Suzanne Barlyn NEW YORK, March 5 (Reuters) - Wall Street and a gauge ofglobal equity markets on Friday recovered...

US STOCKS-Led by tech, Wall Street rebounds at end of volatile week By Reuters - Mar 05, 2021

(For a Reuters live blog on U.S., UK and European stockmarkets, click LIVE/ or type LIVE/ in a news window.) * Oracle rises on Barclays upgrade * Nasdaq set for third straight...

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NSE All Share	39,331.61	-33.06	-0.08%
US 30 Futures	31,499.5	+621.5	+2.01%
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DAX	13,920.69	-135.65	-0.97%
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Brent Oil	69.54	+2.80	+4.20%
Crude Oil WTI	66.26	+2.43	+3.81%
Gold	1,698.00	-2.70	-0.16%
Silver	25.280	-0.181	-0.71%
Copper	4.1018	+0.1233	+3.10%
London Cocoa	1,929.00	-37.00	-1.88%
London Wheat	205.85	0.00	0%

USD/NGN	381.050	+0.500	+0.13%
EUR/USD	1.1918	-0.0048	-0.40%
GBP/USD	1.3843	-0.0051	-0.37%
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Tesla Stumbles as Bitcoin Gives Back Gains

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