After Elon Musk declared that he would stop selling Tesla cars for bitcoins, Tesla stock prices fell and boycotted.
Tesla closed at $571.69 on the 13th (local time) on the New York Stock Exchange, down 3.09% from the previous day.
Tesla's share price continued to curve downward this day, then slipped 5.40% to $559.65 during the intraday.
Technology stocks such as Apple (1.79%), Microsoft (1.69%), Facebook (0.90%) and Google parent company Alphabet (1.31%) rose from the weakness caused by inflation fears, but Tesla did not get caught in the rebound.
Compared to the 7th closing price ($672.37), the last trading day of the week, it was down 14.9%.
Marketwatch, a media outlet specializing in the US economy, reported that Tesla's stock price was below the 200-day moving average ($582.60) in about a year and two months.
Tesla's previous closing price was $589.89.
Bloomberg news agency said, "Tesla stock has fallen for four consecutive trading days this week," and said, "Tesla stocks are experiencing the worst weekly losses," after the stock price decline following the Corona 19 crisis in March last year.
Wedbush Securities warned that Musk's sudden reversal of stance on stopping bitcoin payments poses a risk to Tesla investors as well as cryptocurrency investors, and that it could increase Tesla stock volatility.
Analyst Dan Ives said in an investment memo that Musk's action was "a shocking story." Musk's change of position after three months of accepting Bitcoin payments is "a very surprising and confusing move for both Tesla and cryptocurrency investors."
Ives said the cessation of Bitcoin settlement "does not change Tesla's growth trajectory," he said. "At a time when Wall Street is under tremendous selling pressure for risky assets, it could add volatility (to Tesla stock price).
Online criticism of Musk's change in cryptocurrency continued, and the'Don't Buy Tesla' hashtag to boycott Tesla car appeared.
One netizen said that "Musk is the world's biggest scammer" and said he would join the Tesla boycott, while another netizen criticized "Musk pulled people (to the virtual currency market) to trick people and took money from their pockets."
Along with this, a series of verification shots of the cancellation of Tesla car orders were posted on Twitter.
(Photo = Twitter Capture, Yonhap News, Getty Image Korea)