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Tesla suffered the second worst trading day in its history after two days of spectacular growth. The shares of the electric vehicle company s collapsed 17% after an executive recognized a delay in Model 3 deliveries in China as a result of the coronavirus that is hitting the Asian country.

With this, there are already four days of unusual movement around the titles of the company founded by Elon Musk, which captured the attention of the markets on Monday and Tuesday with increases of 19.9% ​​and 13.7% . However, many analysts expected a correction and it was severe, spurred by bad news from China and short sales.

Tesla lost more than 20% of its value during the day, although he could prevent it from becoming the blackest day of his journey as a public company. Its worst performance dates from 2012, when it lost 19.3% in a single session.

On this occasion, he has not been able to avoid punishment, a victim of the complex situation in China, where a vehicle and battery production plant was released a few months ago. Tesla has kept the Shanghai factory closed since the beginning of the Chinese Lunar Year on orders from the Asian giant's authorities to control the spread of the coronavirus. To date, 490 people have lost their lives and another 24,000 have been infected.

"The deadline (for vehicles) for the beginning of February will be postponed," said Tao Lin, vice president of Tesla, through a Chinese blogging service. "We will recover the pace of production once the health situation improves." Tesla had already warned last week that the coronavirus epidemic would affect its production plans in Shanghai, where it expects to produce 150,000 vehicles in a year.

Even so, the beginning of the year is still spectacular for the company based in Palo Alto (California), with a revaluation of 140% in the last 12 months and 71% since 2020 started. On Tuesday, it reached its all-time high at exceed $ 900 per title. Today he stayed at $ 734.

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