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Tesla Stock Punishes Wary Fund Managers

Tesla Stock Punishes Wary Fund Managers

Many stock-picking fund managers have shied away from Tesla Inc. shares and are now feeling the pain of falling behind.

Among reasons for their wariness: Tesla sports a sky-high valuation and is notoriously volatile. Indeed, over the past two days, the shares slid 16% after Chief Executive Elon Musk said he might sell as much as one-tenth of his stake in the company following a Twitter Poll that urged him to do so. It was Tesla’s biggest two-day drop in more than a year.

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