Also, Tesla’s share price is negatively affected by the sale of shares by Musk himself. Earlier this year, he dumped $23 billion in securities to close a $44 billion deal to buy Twitter. The top manager publicly promised not to sell shares for the next two years, but, according to Archyde.com, this did not help.
Another factor was investor concerns regarding the demand for electric vehicles. For example, last week Tesla announced $7,500 discounts for US residents on the two most popular models, which brought down the shares by another nine percent.