Tesla’s stock falls, in danger of first decline since before Christmas Day

Stock market attempts to claw back from Thursday depths after Fed announces 'big bazooka' to help ease Treasury market problems

Shares of Tesla Inc.

fell 2.1% in premarket trading Monday, which puts them in danger of suffering their first decline in 12 sessions. The stock had rocketed 37.4% amid a record 11-day win streak to close Friday at a record $880.02. Since the stock last declined on Dec. 22, the electric vehicle maker’s market capitalization swelled by more than $227 billion to $834.2 million, enough to make Tesla the fifth most valuable U.S. company and Chief Executive Elon Musk the world’s richest person. Wedbush analyst Dan Ives said in a note to clients that he believes China could see “eye popping demand” into 2021 and 2022, with Tesla’s flagship Giga 3 footprint a “major competitive advantage.” Tesla’s stock has more than doubled (up 102.8%) over the past three months through Friday, while the S&P 500

has gained 10.0%.

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