Market participants associate the negative dynamics of the behavior of securities with a decline in the bitcoin rate.
At the beginning of the week, shares of the electric car manufacturer Elon Musk – Tesla – went down. During the day, the securities lost 8.55% in value. The fall was the largest for Tesla shares since the fall of 2020.
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- Analysts attribute the fall in Tesla shares to a change in investor sentiment. The latter, in anticipation of a new wave of coronavirus, are leaving Big Tech shares due to assumptions about their low profitability during the crisis period.
- Also, the negative dynamics of Tesla securities is associated with a decline in the bitcoin rate. Recall that in early November, information appeared on the network that Tesla had invested $ 1.5 billion in BTC.
- During the day, the cryptocurrency lost 9.51% of its value. As of the time of writing the news (09:31 Moscow time), bitcoin is trading at $ 50,811. At the moment, the rate of the digital asset dropped to $ 47 thousand.
- Despite the fact that the cryptocurrency market has entered a correction, according to Daniel Ives, an analyst at Wedbush Securities, Tesla’s bitcoin income could surpass the company’s 2020 profit from auto sales.
We will remind, earlier in the network there was information that the younger brother of Elon Musk sold Tesla shares for $ 25.6 million.