Tesla loses all gains from 35% rally stoked by Hertz deal
Tesla loses all gains from 35% rally stoked by Hertz deal
By Esha Dey and Bre Bradham | Bloomberg
Tesla’s stock went on a tear after an October deal with Hertz Global Holdings signaled broader mainstream adoption of its electric cars.
But that 35% rally is gone now.
Tesla slid 4.2% on Monday, getting as low as $893.39. That put the shares below where they’d closed right before the $4.2 billion Hertz deal was revealed on Oct. 25.
The stock, which peaked…
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