July 24 (UPI) -- Tesla's shares price declined 1.74% for the week on Friday, two days after posting declining profits for a third straight quarter amid increased competition and a pending loss of federal tax credits.
On Friday, the stock price closed at $316.06, up $10.76, or 3.52%, from the day before, when the stock slumped 8.2%. Its market capitalization slumped to $984.73 billion. Tesla earnings report was released after the market closed on Wednesday.
Tesla is down 16.7% year to date but up 43.5% from one year ago, according to NASDAQ.
Tesla's price was as low as $284.70 on June 5 when Elon Musk's feud with President Donald Trump intensified and $221.85 on April 8 when stock indexes and bond market were tumbling before Trump announced a pause on harsh tariffs on trading partners.
The company's stock price reached a record of 479.86 on Dec. 17 before Trump entered the White House as president again on Jan. 20. Tesla first began trading on June 29, 2010, with an initial price offering of $17 but opened trading at $19 per share.
