Tesla’s valuation drops by $145bln on demand concerns

Tesla’s shares have seen a huge decline, losing nearly one-fifth of their worth of $145 billion in less than two weeks amid growing concerns that demand for electric vehicles (EV) is starting to weaken.

Tesla’s decline stands out that its shares have sunk over 17 percent since the October 18 report, compared to a 2.8 percent drop in the S&P 500 Index, and a 3.4 percent decline in the Nasdaq 100.

The downward trade started earlier this month when Tesla fixed down its development expectations in its third-quarter earnings call. This was followed by pessimistic comments from diverse international automakers.