Shares of large technology companies, including Tesla Inc TSLA, are trading lower amid a rise in bond yields, which has weighed on growth stock valuations.
The 10-year Treasury yield hit an intraday high of 1.567% Tuesday morning before dipping to around the 1.544% level. The spike in the 10-year note this week comes after the Federal Reserve last week spoke on winding down its ongoing asset purchasing program.
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 is trading lower by 2.5% at $771.41. Tesla has a 52-week high of $900.40 and a 52-week low of $379.11.
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