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Why Tesla Stock Tanked Today

TheMotleyFool

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Shares of electric-car maker Tesla (NASDAQ: TSLA) dropped nearly 6% in early trading on Wednesday in response to a Bloomberg report last night that upstart e-car rival Rivian is preparing for an IPO.

As of 10:45 a.m. EST today, Tesla stock was down 5.7% on the news.

This electric pickup is made by Rivian, and that could be a problem for Tesla stock. Image source: Rivian.

Source Fool.com

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