[Asia Economy Reporter Jeong Hyunjin] Tesla's market capitalization plummeted by $109 billion (approximately 131.4 trillion KRW) in a single day on the 27th (local time) amid concerns that supply chain issues, including semiconductor shortages, will persist this year.
According to Bloomberg News and others, Tesla closed at $829.10 on the Nasdaq market in the U.S., down 11.55% from the previous day. This was the lowest level in over three months since October 14 last year, and Tesla's stock price, which had exceeded $1,000 earlier this year, fell to the 800 range on this day.
Bloomberg reported that Tesla's market capitalization disappeared by $109 billion in just one day due to the sharp drop in its stock price. This is the first time since November 9 last year that Tesla's market cap has decreased by more than $100 billion in a single day.
The reason for Tesla's stock price plunge is the supply chain issues mentioned the previous day. Tesla announced in its earnings report that last year's revenue reached $53.8 billion and operating profit was $5.5 billion, marking an all-time high, while forecasting that supply chain issues continuing from last year will persist this year as well.
In particular, CEO Elon Musk, who was originally expected to announce this year's new product roadmap on the day, mentioned semiconductor shortages and said that no new cars will be released this year, and the launch of the electric pickup 'Cybertruck' will be postponed until next year. Bloomberg reported that many people were disappointed by this.
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