Tesla retreats for third day as investors cash in on gains

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Market analysts and traders called it a near-term profit-taking, triggered by the company’s plan to raise $5 billion from the market and the stake sale by the second largest shareholder Baillie Gifford, in a stock that has surged fivefold in 2020. Meanwhile, Edinburgh-based Baillie Gifford told Herald Scotland the investment firm remains a “strong supporter” of Tesla, but had to sell its passive stake due to norms that limit the weight of a stock in clients’ portfolios. Gifford cut its stake t

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Tesla retreats for third day as investors cash in on gains originally appeared on Autoblog on Thu, 3 Sep 2020 14:58:00 EDT. Please see our terms for use of feeds.

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