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Benzinga
Benzinga
Business
Henry Khederian

Why Tesla Shares Are Falling

Tesla Inc (NASDAQ:TSLA) shares are trading lower Wednesday. The move appears related to overall market weakness as investors react to minutes from the FOMC meeting. Minutes showed most Fed members viewed conditions for rate hikes as potentially being met relatively soon.

The 10-year Treasury yield hit an intraday high of 1.712% early Wednesday afternoon before dipping to around the 1.702% level. Overall market volatility is persistent again during Wednesday's session as investors continue to weigh omicron concerns.

See Also: Why Joe Terranova Bought Nucor Stock Today

Tesla is a vertically integrated sustainable energy company that also aims to transition the world to electric mobility by making electric vehicles. The company sells solar panels and solar roofs for energy generation plus batteries for stationary storage for residential and commercial properties including utilities.

Tesla has a 52-week high of $1,243.49 and a 52-week low of $539.49.

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