Tesla stock drops into bear territory amid reported SEC probe into solar panels
- Date: 06-Dec-2021
- Source: Yahoo News
- Sector:Financial Markets
- Country:Middle East
Tesla stock drops into bear territory amid reported SEC probe into solar panels
Tesla (TSLA) shares slid on Monday after Reuters reported a Securities and Exchange Commission (SEC) probe into the electric vehicle giant based on a whistle-blower complaint of solar panel defects.
If the losses hold through today's session, Tesla shares will close in bear market territory, which is when a stock has declined 20% or more from its recent high. Tesla shares hit an all-time high of $1,229.91 on November 4th. The company hit $1 trillion in valuation for the first time ever on October 25th.
On Monday Tesla shares were trading below $1,000 each. The company's market cap fell to about $972.5 billion at one point.