Why Tesla Stock Dropped Monday Morning
Tesla (NASDAQ: TSLA) stock dropped Monday morning along with much of the technology sector. The tech-heavy Nasdaq Composite index was down about 1.5% in early trading. Tesla shares were lower by 1.6% as of 11 a.m. ET after dropping nearly 3% earlier.
Tesla's drop comes after another bit of news surfaced related to the vertical integration efforts for its business. During the company's third-quarter conference call earlier this month, CEO Elon Musk commented on where he sees battery production costs heading "once we are fully integrated." So it shouldn't come as too much of a surprise that the Financial Times is reporting Tesla has discussed a large investment in global commodity and mining company Glencore.
Source Fool.com
