Musk's 'Loose Talk' Causes Tesla Stock to Drop 3%... PepsiCo Announces "Tesla Truck Introduction in Q4"

6% Drop Followed by Narrowing Decline
PepsiCo "Tesla Electric Truck to Be Introduced This Quarter"

[Asia Economy New York=Correspondent Baek Jong-min] Tesla's stock price, which plunged following CEO Elon Musk's hint at a possible stock sale, is reducing its losses.

Tesla Semi Truck Rendering

As of around 12:20 PM local time on the 8th, Tesla's stock price is trading at $1,187, down 2.9% from the previous day. Tesla initially dropped 5.9% to $1,149 at the opening and further fell to $1,133, but the decline has recovered by about half as trading continued.

Tesla shares are actively traded. The trading volume surpassed the previous day's volume within just over three hours of trading.

The decline in Tesla's stock price is due to CEO Musk hinting at the possibility of selling his holdings. Musk has recently been a prime target of the billionaire tax being pushed by the Democratic Party.

Musk recently conducted a poll on his Twitter account asking whether he should sell 10% of his Tesla shares. The day before the poll closed, 58% of respondents voted in favor.

During the trading session, there was also some positive news. Ramon Laguarta, CEO of PepsiCo, stated in an interview with CNBC that they plan to receive Tesla's electric truck, the Semi, within the fourth quarter.

PepsiCo announced a plan to purchase 100 units after Tesla unveiled the Semi truck in 2017. Walmart's trucking operator J.B. Hunt Transport and food transportation company Sysco also planned to introduce the Semi truck.

PepsiCo has announced that it will reduce carbon dioxide emissions generated during the distribution process by adopting Tesla's electric trucks.

Tesla had planned to launch the Semi truck in 2019, but due to battery supply issues and other factors, mass production was expected in 2022.

This content was produced with the assistance of AI translation services.