Tesla Inc. shares broke their longest losing streak in more than four years Wednesday.
Tesla Inc. shares broke their longest losing streak in more than four years Wednesday, avoiding an ignominious record.
Tesla TSLA stock increased 3.3% for its best daily performance in nearly a month, since Nov. 30. Before Wednesday, the electric-vehicle maker’s shares had declined in seven consecutive sessions, their worst losing streak since a seven-session run that ended on Sept. 15, 2018. Tesla has had four losing streaks that hit seven sessions but has never declined for eight straight days, according to Dow Jones Market Data.
Tesla shares are still on pace to put up their worst month, quarter and year on record. Shares are down 42.1% in December, which would easily top a 25.2% decline in December 2010. They have fallen 57.5% so far in the fourth quarter, outpacing a 37.5% decline in the second quarter of this year. And they are headed for only their second negative year since the company went public in 2010, after an 11% decline in 2016.
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