Bloomberg reports that Tesla shares fell sharply on Monday morning, falling below a price that US Commerce Secretary Howard Lutnick said should never have fallen below.
Tesla shares fell more than 10% to $214.80 amid a general decline in global stock markets.
In March, Lutnick said the shares were worth buying at $235.86. “They’ll never be this cheap again,” he said.
The next day, Tesla CEO Elon Musk told employees to hold onto their shares.
