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Business

Shanthi Rexaline

Tesla Shares Plunge 10% As Musk’s Net Worth Takes A $20 Billion Hit

Tesla Inc. Elon Musk SpaceX

Tesla CEO Elon Musk speaks during the unveiling of the new Tesla Model Y in Hawthorne, California. The Tesla stock plunge wiped off roughly $90 billion off the company's market capitalization. The negative reaction was despite the second-quarter top- and bottom-line exceeding expectations. PHOTO BY FREDERIC J. BROWN/GETTY IMAGES

Tesla, Inc. (NASDAQ:TSLA) shares slumped nearly 10% Thursday following the electric vehicle pioneer’s earnings.

What Happened: The Tesla stock plunge wiped off roughly $90 billion off the company’s market capitalization. The negative reaction was despite the second-quarter top- and bottom-line exceeding expectations.

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

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