Tesla loses all the gains from 35% rally stoked by Hertz EV deal

Esha Dey and Breanna Bradham

Tesla Inc.’s stock went on a tear after an October deal with Hertz Global Holdings Inc. signaled broader mainstream adoption of its electric cars.

But that 35% rally is gone now.

Tesla slid 4.2% on Monday, getting as low as $893.39. That put the shares below where they’d closed right before the $4.2 billion Hertz deal was revealed on Oct. 25.

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