Shares of Elon Musk’s Tesla Motors fell for the third straight day yesterday, losing 5 percent of their value in a single trading session. With shares ending the day at $152.53, down 40 points from their high of $192.50 on Sept. 30 of this year, investors are learning the hard way that the company’s value is highly dependent upon news events. The three-day slide has been attributed to two separate car fire incidents last week. For the year, shares have gained 350 percent. But is now the time that those gains are taken back?
As if JPMorgan Chase & Co. investors didn’t have enough to worry about with the $13-plus billion settlement with the U.S. Justice Department looming over the company. Now, JPMorgan Chase and Citigroup Inc. have put a number of their currency dealers on leave ahead of a new regulatory investigation into foreign exchange-rate manipulation.
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