Tesla stock plunges 14% as Trump and Elon Musk break up. Here’s what the numbers show
Tesla stock is having a rough week. Shares have fallen more than 20% in the last five days, and were down 14% on Thursday alone. Meanwhile, trading volumes — the number of shares trading hands — paint a distinct picture. Look beyond the headline stock moves, and the type of selling starts to come into focus. On days when Wall Street panics, trading volume typically surges. Last Thursday, May 30, when The New York Times ( NYT ) published a bombshell story about Elon Musk’s drug use, erratic behavior, and political entanglements, Tesla’s volume spiked to more than 123 million shares . In the days following, as Musk broke rank to come out against the new tax bill , the stock kept on falling, but volume largely declined — to about 81 million shares on Monday, under 100 million on Tuesday and Wednesday, and about 80 million as of midday Thursday. That pattern suggested the later move down may have been driven more by retail investors, with s...