Why Tesla Stock Fell Sharply on Wednesday
As of noon EDT on Wednesday, shares of Tesla (NASDAQ: TSLA) were trading about 9% lower. The stock, however, had been down by as much as 14.7% earlier in the day.
The growth stock's decline likely reflects some investors taking profits after its enormous run-up in 2019 and 2020. Further, some investors may have been spooked by the news that the electric-car maker's largest institutional shareholder had trimmed its position.
Image source: Tesla.
Source Fool.com