5 Market Movers to Watch on Thursday

4. Tesla, Inc. (NASDAQ:TSLA) has fallen 3.04% as of 2:57 PM ET after the stock price of the Austin, Texas-based electric vehicle (EV) company fell below the psychological $700 level for the first time since August 2021. Tesla, Inc. (NASDAQ:TSLA) stock has lost 42% of its value from its all-time high. Investors are not only concerned about the valuation reset following the broad sell-off but are also keeping an eye on the production slowdown in China since the start of this quarter. During April, Tesla, Inc. (NASDAQ:TSLA) delivered only 1,512 EVs from its Shanghai Gigafactory, which reflected a decline of 87% on a YoY basis and 98% on a sequential basis.

Of the 924 hedge funds in Insider Monkey’s database, Tesla, Inc. (NASDAQ:TSLA) was held by 91 hedge funds as of Q4 2021.