Berkshire Hathaway Vice Chairman Charlie Munger warned that the current bubble is more serious than the IT bubble.
On that day, Tesla plunged 6.42% from the previous trading day to $1014.97, a pull-up of just $1,000. Its market cap also fell to $1.29 trillion, defending only $1 trillion.
Tesla’s sharp decline on that day is analyzed to be due to a sell-off on growth stocks and the fact that Tesla CEO Elon Musk has sold stocks again.
In a report filed with the Securities and Exchange Commission (SEC), Musk revealed that he had sold an additional 934,000 shares (worth $1 billion). It is confirmed that Musk has sold more than 10 million shares so far. The reason why US growth stocks plunged during the Japanese occupation is believed to be because Berkshire Hathaway Vice Chairman Charlie Munger said, “The bubble right now is worse than the IT bubble.”
Rivian, which is in the spotlight as a competitor to Tesla, fell 5.51% from the previous trading day to $104.67.
Lucid, another electric vehicle startup, also closed at $47.27, down 2.35% from the previous trading day.
(Seoul = News 1)
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