Tesla's Stock Plunges as Oil Prices Continue to Fall

Stocks end the day down after the energy sector sector fell 5% due to the continual drop in oil prices. The energy sector isn't the only one that is hurting due to the falling gas prices, Tesla's stock has fallen more than 25% since September as alternative fuel is not deemed necessary due to the lower gas prices. However, falling gas prices are positive for car manufacturers that create automobiles that use fuel such as Ford (F), General Motors (GM), and Toyota (TM) as consumers may be more inclined to purchase larger, and more pricier, SUVs since gas prices are much lower.

McDonald's (MCD) shares fell 4% today after the fast-food giant posed its biggest same-store sales drop in nearly 10 years, same store sales in the U.S. fell 4.6%.

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Published on Dec 8, 2014
By InvestorGuide Staff

Copyrighted 2016. Content published with author's permission.

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