Tesla Shares Plummet $50-Billion

Video Credit: Wochit Business
Published on September 23, 2020 - Duration: 00:25s

Tesla Shares Plummet $50-Billion

Business Insider reports that Tesla lost around $50 billion of its value.

The drop came after its founder Elon Musk said it would take until 2022 for Tuesday's "Battery Day" announcements to reach high-volume production.

Tesla closed 6% lower on Tuesday and a further 7% in after hours trading.

Musk said he is eyeing a cheaper vehicle with a target price of $25,000, and planning to build 20 million vehicles.

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