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Tesla Stocks Fall After 'Lock-Up Period' Ends

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Tesla Stocks Fall After 'Lock-Up Period' Ends

Business

Tesla Stocks Fall After 'Lock-Up Period' Ends

Tesla Stocks Fall After 'Lock-Up Period' Ends

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  • <iframe src="https://www.npr.org/player/embed/132393634/132393613" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript

Shares in pioneering electric car company Tesla Motors dropped 15 percent on Monday. The timing of the plunge isn't a complete surprise. Monday was the first day company insiders and early investors were allowed to sell their shares after the company went public in June.

RENEE MONTAGNE, host:

NPR's business news starts with Tesla Motors hitting the brakes.

(Soundbite of music)

MONTAGNE: Shares in the pioneering electric car company dropped 15 percent on Monday. The timing of the plunge isn't a complete surprise. Yesterday was the first day company insiders and early investors were allowed to sell their shares after the company went public in June.

The sell-off comes as several of the world's major carmakers are also stepping into the electric car market.

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