Billionaire Ilon Musk’s Tesla stock price almost halved in a year. This is reported by Bloomberg.

At the end of trading on the U.S. stock market, Tesla stock today fell to $204.99 per unit. At the same time, the highest price of the company’s shares was recorded on November 4, 2021, when they were traded at $409.97 apiece. Also, the market capitalization of the company also fell, and by October 15, 2022 was at $642 billion.

Market experts agreed that Tesla’s stock collapsed because there is now a general collapse in the stock markets in the United States. Also, the company had its own problems. In particular, we are talking about reducing the supply of cars in the third quarter due to difficulties with logistics.

According to experts, car output was also affected by coronavirus restrictions in Shanghai, where one of the company’s largest plants is located. Rising car prices also have an impact on demand.

On Oct. 3, Tesla shares, which fell 7% on Monday amid the publication of third-quarter data, continued to fall after the company’s head, Ilon Musk, proposed conditions to resolve the conflict between Russia and Ukraine.

Earlier, we reported that JP Morgan predicts the U.S. market to fall by 30% due to the recession.