Tesla tanks on report of Toyota sellout

Shares of Tesla Motors plunged 5.8 percent Monday after reports surfaced that Toyota has joined Mercedes-Benz parent Daimler in cutting its stake in the upstart electric-car maker.

Tesla closed at $221.67, down $13.57.

That's after Toyota sold some of its shares, bringing in a huge profit based on unnamed sources. The company bought a $50 million stake in 2010, representing 2.4 percent ownership, according to USA Today.

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