Companies

Tesla stock set to lose $76 billion in two days on growth risks

Stock in Elon Musk’s electric car company was down 5.6 per cent on Tuesday, after closing 7.2 per cent lower on Monday

Tesla’s stock was down 5.6 per cent on Tuesday, after closing 7.2 per cent lower on Monday. Picture: Reuters

Tesla stock is on course to shed $76 billion in market capitalisation in just two days, fuelled by negative headlines from China and Germany that rekindled concerns about the company’s growth trajectory.

Shipments from Tesla’s Shanghai factory sank to the lowest in over a year in February, weighing on the automaker’s stock, which was down as much as 5.6 per cent on Tuesday, after closing 7.2 per cent lower on Monday.

Nio’s weak outlook for ...