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Tesla Loses All the Gains From 35% Rally Stoked by Hertz Electric Vehicle Deal

December 20, 2021


Tesla Inc.’s stock went on a tear after an October deal with Hertz Global Holdings Inc. signaled broader mainstream adoption of its electric cars.

But that 35% rally is gone now.

Tesla slid 4.2% on Dec. 20, getting as low as $893.39. That put the shares below where they’d closed right before the $4.2 billion Hertz deal was revealed Oct. 25.

The stock, which peaked Nov. 4, is down 21% in December, poised for the worst month since the pandemic-fueled rout in March 2020.

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