Get all your news in one place.

100's of premium titles.
One app.

Get all your news in one place.

100's of premium titles. One news app.

Benzinga

Business

Surbhi Jain

Tesla Just Had a Toyota-Sized Meltdown—JPMorgan, UBS Raise Red Flags

Toyota JPMorgan UBS NYSE Tesla Inc. TM Toyota Motor Corp

Tesla,Stock, - EK

Tesla, Inc. (NASDAQ:TSLA) investors gave a resounding thumbs-down to the EV maker’s latest earnings report, causing shares to suffer a historic collapse on Thursday, wiping out $214.5 billion in market value in a single session. That’s more than the entire market capitalization of Toyota Motor Corp (NYSE:TM).

The stock plunged 14.52% to close at $319.69—the largest one-day loss in Tesla’s history. Trading volume surged to 115.61 million shares, more than double its three-month daily average of 49.4 million shares.

Sign up to read this article

Read news from 100's of titles, curated specifically for you.

Already a member? Sign in here

Top stories on inkl right now

Trump establishes committee to investigate Fed governor Lisa Cook

Trump establishes committee to investigate Fed governor Lisa Cook

US president renews his efforts to oust Cook despite supreme court ruling that her firing was unconstitutional

The Guardian - US

Hurricane Isaias could nudge fuel prices higher if Gulf of Mexico refineries lose power

Hurricane Isaias could nudge fuel prices higher if Gulf of Mexico refineries lose power

Hurricane Isaias is forecast to miss the oil industry’s biggest hubs along the Gulf Coast

The Independent UK

Hurricane Simon update: Storm expected to become Category 4 before landfall

Hurricane Simon update: Storm expected to become Category 4 before landfall

Category 4 hurricanes on the Saffir-Simpson scale have maximum sustained winds of 210-250 kph

The Independent UK

Democratic Senate candidate responds to anti-trans attacks pushed by Republicans

Democratic Senate candidate responds to anti-trans attacks pushed by Republicans

Dr Annie Andrews voices opposition to ‘biological men … in women’s sports’ in response to Republican attacks

The Guardian - US

One subscription that gives you access to news from hundreds of sites

Already a member? Sign in here

Hurricane Isaias barrels toward Gulf coast as category 3 storm

Hurricane Isaias barrels toward Gulf coast as category 3 storm

Alabama, Florida and Mississippi declare emergencies, as residents prepare for ‘long-duration power outages’

The Guardian - US

Virginia county sues to stop Trump from building his beloved triumphal arch

Virginia county sues to stop Trump from building his beloved triumphal arch

The lawsuit marks the first time a government entity has challenged the proposed arch in court

The Independent UK

Related Stories

Top stories on inkl right now

Trump establishes committee to investigate Fed governor Lisa Cook

Trump establishes committee to investigate Fed governor Lisa Cook

US president renews his efforts to oust Cook despite supreme court ruling that her firing was unconstitutional

The Guardian - US

Hurricane Isaias could nudge fuel prices higher if Gulf of Mexico refineries lose power

Hurricane Isaias could nudge fuel prices higher if Gulf of Mexico refineries lose power

Hurricane Isaias is forecast to miss the oil industry’s biggest hubs along the Gulf Coast

The Independent UK

Hurricane Simon update: Storm expected to become Category 4 before landfall

Hurricane Simon update: Storm expected to become Category 4 before landfall

Category 4 hurricanes on the Saffir-Simpson scale have maximum sustained winds of 210-250 kph

The Independent UK

Democratic Senate candidate responds to anti-trans attacks pushed by Republicans

Democratic Senate candidate responds to anti-trans attacks pushed by Republicans

Dr Annie Andrews voices opposition to ‘biological men … in women’s sports’ in response to Republican attacks

The Guardian - US

One subscription that gives you access to news from hundreds of sites

Already a member? Sign in here

Hurricane Isaias barrels toward Gulf coast as category 3 storm

Hurricane Isaias barrels toward Gulf coast as category 3 storm

Alabama, Florida and Mississippi declare emergencies, as residents prepare for ‘long-duration power outages’

The Guardian - US

Virginia county sues to stop Trump from building his beloved triumphal arch

Virginia county sues to stop Trump from building his beloved triumphal arch

The lawsuit marks the first time a government entity has challenged the proposed arch in court

The Independent UK

Our Picks

Travis Barker shares Kourtney Kardashian’s bold first move: ‘Something crazy’

Couple were friends for 15 years before becoming a couple around 2020

The Independent UK

‘My dog’s built her own fashion community’: how canine companions stole the fashion week spotlight

Our four-legged friends are turning heads from Louis Vuitton to Schiaparelli – but what does their presence in the most exclusive of spaces say about the industry’s changing attitudes?

The Guardian - UK

Mystery of why big dogs age faster than small ones finally solved

Researchers analyzed the health of more than 860 dogs

The Independent UK

I'm Italian American, but I Don't Celebrate Columbus Day.

The holiday brings out many of the worst excesses of identity politics.

WWE Star Stephanie Vaquer Sets Social Media Ablaze With Nude Photo Wearing Nothing but Her Championship Belt

WWE Women's World Champion Stephanie Vaquer has attracted widespread attention after sharing a revealing photograph featuring her title, days before defending it against Liv Morgan and Becky Lynch.

International Business Times UK

‘Striking and personal’ self-portrait by David Bowie up for auction

Sotheby’s said the self-portrait created by the musician in 1996 will go on sale next week.

Evening Standard

Fourteen days free

Download the app

One app. One membership.
100+ trusted global sources.

Download on the AppStore

Get it on Google Play