Tesla's stock has massively under-performed over the past 5 years (will be up 8% over that period if the after hours price action holds). The opportunity cost of owning it has been huge while the rest of the market ripped up.
Judging by the stock price today, I think that may be exactly what happened, but only just a bit. Stock is down 8%, some investors have decided to get out of tesla.
Most of the move was after hours when this report was released. Tesla was only down .6% during the day, despite the higher alpha and the market being down 2%.
> But Tesla’s shares have declined more than 40 percent since April 4 — a much steeper fall than the broad market, vaporizing more than $400 billion in stock market value.
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