Source: Pensions & Investments

A national teachers’ union is urging public pension funds to ask their money managers how they will safeguard retirement assets given the steep plunge in Tesla shares this year.

In a letter to more than 75 state and city chief fiduciary officers of U.S. public pension funds, American Federation of Teachers President Randi Weingarten is requesting they reach out to money managers overseeing their investments “to urgently review their current holdings” in the electric carmaker led by Elon Musk, according to an April 2 statement.

The shares are down more than 40% from a closing record on Dec. 17, the second-worst performance in the S&P 500 for the period. Meanwhile, the company on April 2 reported the lowest sales since 2022.

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