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Tesla investors nursing big share losses
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Tesla investors who stayed loyal to Mr Elon Musk over the years are facing a brutal collapse.
PHOTO: AFP
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Mr Doug Coyle’s son told him to sell the shares. The 68-year-old retired landscaper first started investing in Tesla in 2012 after hearing about Mr Elon Musk, who was not nearly as famous at the time.
Over the next decade, he put about US$100,000 into the stock, and his investment value ballooned to about US$3 million (S$4 million) at the peak in November 2021. Then came the plunge, as the Covid-19 pandemic-era tech bubble began to unwind. Mr Coyle’s son, who got into trading during the 2020 retail frenzy, implored him to sell.
