Tesla falls over 5% after traders pull off profits

Friday, 24. July 2020 18:50

Shares of American electric carmaker Tesla fell more than 5% on Friday that represents its biggest daily drop since May.

After better-than-expected earnings the company reported, Tesla traders decided to pull off some profits following the stock's race that sent shares up by approximately 300% year to date at recent highs.

Tesla stock slumped by 5.80% to $1,428.26 at 12:47 pm ET.

Related Links: Tesla Inc.
Author:
Breaking the News / TF