Why Tesla Shares Are Diving

Shares of several companies in the broader tech sector, including Tesla Inc TSLA, are trading lower amid overall weakness as traders continue to digest Wednesday's Fed rate hike announcement. An increase in yields has pressured tech and growth stocks.

The Federal Reserve raised its target fed funds rate by 0.5% on Wednesday to a new range of between 0.75% and 1.0%, its first rate hike of at least half a percentage point in more than 20 years. The Fed also said it will begin reducing the size of its balance sheet starting on June 1… Read More

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Tesla is a vertically integrated sustainable energy company that also aims to transition the world to electric mobility by making electric vehicles.

According to data from Benzinga Pro, Tesla has a 52-week high of $1,243.49 and a 52-week low of $546.98.