Tesla stock falls 15% in a week as big investors look to bail
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Tesla stock is having a rough week. Shares have fallen more than 15% in the last five days, and were down 9% on Thursday alone.
Meanwhile, trading volumes — the number of shares trading hands — paint a distinct picture. Look beyond the headline stock moves, and the type of selling starts to come into focus.
On days when Wall Street panics, trading volume typically surges. Last Thursday, May 30, when The New York Times (NYT) published a bombshell story about Elon Musk’s drug use, erratic behavior, and political entanglements, Tesla’s volume spiked to more than 123 million shares. In the days following, as Musk broke rank to come out against the new tax bill, the…
