Autos

What’s weighing the stock down?

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Tesla Motors CEO Elon Musk unveils a new all-wheel-drive version of the Model S car in Hawthorne, California October 9, 2014.

Lucy Nicholson | Reuters

Shares in Tesla were down as much as 8% Friday morning. They’ve since recovered to finish down less than 4% as markets showed a dramatic bounceback late on Friday, but the stock has still lost more than 15% of its value the year, and finished below $600 for the first time since Dec. 4.

Here are some of the biggest factors weighing down the cult stock, and knocking the world’s wealthiest crown off Elon Musk‘s head — the CEO owns about 22% of Tesla shares.

Fed fears

On Thursday, Fed Chairman Jerome Powell said that “upward pressure on prices”…



Source cnbc.com

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