Tesla retreats for third day as investors cash in on gains

Tesla Inc shares fell for a third straight day on Thursday, as investors who have been betting on the electric-car maker’s growth prospects cashed in on the meteoric rally in the stock price this year. Market analysts and traders called it a near-term profit-taking, triggered by the company’s plan to raise $5 billion from the market and the stake sale by the second largest shareholder Baillie Gifford, in a stock that has surged fivefold in 2020.
Read more: https://uk.reuters.com/article/uk-tesla-stocks/tesla-retreats-for-third-day-as-investors-cash-in-on-gains-idUKKBN25U2IE?il=0?source=Snapzu