Tesla shares finally snapped their record 13-day winning streak on Wednesday, closing down 0.1%. The stock's decline wiped out $200 billion in value, bringing its market capitalization to $813 billion.
The streak of gains was the longest in Tesla's history, and it came as the company's stock price surged on a series of positive news. In recent weeks, Tesla has announced plans to build a new factory in Germany, and it has also received regulatory approval to sell its cars in China.
However, the streak of gains came to an end on Wednesday as investors took profits. The stock's decline was also likely due to a broader sell-off in the stock market, which was triggered by concerns about inflation and rising interest rates.
Despite the decline on Wednesday, Tesla's stock is still up more than 50% this year. The company's stock price has been on a tear in recent years, as investors have bet on its growth prospects. Tesla is the world's leading electric car maker, and it is also developing self-driving car technology.
It remains to be seen whether Tesla's stock price can continue its recent run-up. However, the company's long-term prospects are still very bright, and its stock is likely to remain a popular investment among investors.