Shares of Tesla Inc. edged up 0.4% Friday, taking some of the sting from steeper losses on Thursday after a backlash over controversial comments made by Chief Executive Elon Musk.
The stock dropped as much as 1.1% in Thursday’s after-hours session, after slumping 3.8% during the regular session, following news that International Business Machines Corp.
IBM,
pulled ads from X, formerly known as Twitter. Musk, the owner of the social-media site, agreed with a post that was supportive of an anti-Semitic conspiracy theory.
See also: A hybrid just won ‘vehicle of the year.’ Here’s why the EV case has been hard to crack.
The decline in Tesla’s stock on Thursday snapped a four-day win streak for the stock, during which it soared 15.6% to close Wednesday at a one-month high.
The stock has tacked on 6.6% over the past three months through Thursday while the S&P 500
SPX,
has advanced 3.2%. On the longer view, Tesla also comes ahead, up nearly 91% so far this year, compared with a 17% advance for the index.
Claudia Assis in San Francisco contributed to this report.
Source link
