Fear and greed are factors that control the price movement of a stock, but at the end of the week, the former controlled the decision of Tesla investors, after owners of the electric vehicles criticised Elon Musk for cutting prices of the firm’s cars.
Musk, the Chief Executive Officer and majority shareholder of Tesla, had cut prices of its EVs to increase sales amid slow demands.
Tesla’s Model Y base price was dropped by 20 per cent and Model S Plaid was cut by 14 per cent. Six other EVs manufactured by the carmaker also saw price cut.
