Bitcoin price crash is weighing on Tesla’s stock: analyst
- Date: 23-Jun-2021
- Source: Yahoo News
- Sector:Financial Markets
- Country:Middle East
Bitcoin price crash is weighing on Tesla’s stock: analyst
Bitcoin prices have crashed from the euphoric highs of 2021, and some on the Street think it's weighing on Tesla's stock seeing as it got into the market for the crypto in February.
"It [bitcoin] has been quite a bit of a distraction given the size of the company [Tesla]. So it really shouldn't be taking too much impact, but there is a lot of news with the company — I imagine it is creating some volatility for sure," Wells Fargo auto and mobility analyst Colin Langan said on Yahoo Finance Live.
It's hard to argue the hypothesis.