Tesla Inc. lost nearly $175 billion from its valuation, heading for the biggest two-day slide in 14 months, as the surge in shares lost momentum amid a host of negative news.The drumbeat of adverse headlines reached a crescendo after Elon Musk’s Twitter poll that asked voters over the weekend if he should sell 10% of his stake in the electric-vehicle company was followed by news of his brother Kimbal selling some shares just before the poll. There was also a Business Insider report on Michael Burry, the investor made famous by “The Big Short” movie, saying Musk may want to sell stocks to cover his personal debts.“The stock is extremely overvalued from a long-term perspective, and investors are struggling with the valuation,” said Matt Portillo, an analyst at Tudor Pickering. He noted that Musk’s stock-sale poll provided investors “an excuse to pull back a bit.”
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