Shares of Tesla Inc. have bounced sharply in intraday trading, but are still on track to suffer the worst four-day performance this year. The electric vehicle maker’s stock sank as much as 4.5% within the first 15 minutes after the opening bell, before paring losses just as quickly to be down 0.6% in recent morning trading. The intraday low of $202.51, hit around 9:44 a.m. Eastern, was the lowest price seen during regular-session hours since June 1. The stock has now tumbled 17.3% amid a four-session losing streak, which would mark the worst four-day stretch for the stock since it lost 18.1% over the four days ended Dec. 28, 2022. The stock has been selling off since Tesla reported disappointing third-quarter results after the Oct. 18 closing bell. Since then, Tesla has recalled nearly 55,000 Model X EVs due to a brake condition and raised what it expected to spend on capital expenditures this year. The stock has shed 18.9% over the past three months while the S&P 500
SPX,
has lost 7.0%.
