$TSLA has underperformed both $BTC and $DOGE in 2022
and meme cryptocurrency Shiba Inu stocks have been underperforming since the start of 2022 and have both lost about 70% year-to-date.
Notably, such cryptocurrencies as Bitcoin and Dogecoin have outperformed the stock of the leading e-car maker. Tesla saw its stocks crumble nearly 9% on Thursday following the company’s announcement about reducing its price tags for both the Model 3 and Model Y vehicles by $7,500 for those expecting delivery this month across the U.S. This reignited fears of diminishing demand.
Investors recently expressed concerns that Tesla CEO Elon Musk may put more of his shares in the company up for sale to finance his Twitter investments, with him offloading around $3.5 billion worth of shares last week.
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