Tesla has been hit twice. Amid rumors of delays in the production of its electric vehicles in China and the rapid sell-off of technology and crypto assets, the business has lost hundreds of billions of dollars in market capitalization.

The company’s share price at the close of trading on Wednesday was $ 563,46, the lowest since March 8. The market value of the company has dropped by $ 300 billion since the end of January – then it briefly became more expensive than Facebook Inc.

Investor confidence has been shaken by a series of setbacks this month, including several accidents involving Tesla, data raising doubts about sales growth in one of its key markets in China, and delayed start of production at a plant in Germany. If we add the obvious competition from the “old” carmakers and the global shortage of semiconductors, investors have a rather unattractive picture.

“The story of Tesla’s slowing expansion in China should be a major concern for everyone,” – said analyst at Roth Capital Partners, Craig Irwin (Craig Irwin). Investors must be shocked that the Chinese media is showing videos showing the results of autopilot failures, and the government is allowing the videos to be widely disseminated, he said.

Additionally, the rapid drop in cryptocurrency rates caused by Elon Musk’s tweets caused a “boomerang effect” for Tesla, which owns significant amounts of Bitcoin. According to Wedbush analyst Daniel Ives, “For better or worse, Tesla is now tightly tied to the price of Bitcoin”, and Mask games with cryptocurrency – “Clownery that investors are not going to tolerate”.

In general, Tesla’s market capitalization fell to $ 543 billion – as early as January 26, it was worth $ 837 billion.