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Tesla shares plunge 15%, suffering steepest drop in five years


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Tesla’s sell-off on Wall Street intensified on Monday, with shares of the electric vehicle maker plunging 15%, their worst day on the market since September 2020.

On Friday, Tesla wrapped up a seventh straight week of losses, its longest losing streak since debuting on the Nasdaq in 2010. The stock has fallen every week since CEO Elon Musk went to Washington, D.C., to take on a major role in the second Trump White House.

Since peaking at $479.86 on Dec. 17, Tesla shares have lost more than 50% of their value, wiping out upward of $800 billion in market cap. Monday marked the stock’s seventh worst day on record.

The downdraft in Tesla’s stock on Monday was tied to uncertainty surrounding President Donald Trump’s plans on tariffs. Canada and Mexico are key markets for automotive suppliers, and increased tariffs, with the potential for a trade war, will likely affect production and lead to higher prices.

Tesla is also dealing with brand erosion due to Musk’s incendiary political rhetoric and his extensive work with the Trump administration, where he is leading up the so-called Department of Government Efficiency.
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AsleepOnTheCeiling
8 minutes ago, PartySick said:

Hope M*sk ends up living in a box under a bridge :heart:

I'm hoping for a jail cell personally

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holy scheisse

There was literally a protest 5 mins away from me in a random New Jersey town at the Tesla dealership the other day and I was so happy to see it 

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4 minutes ago, Lucas said:

Such great news. I hope this can start something because boycotts DO WORK.

Only the conservatives’ boycotts flop :gaycat:

If you see me posting like crazy, I'm either bored or procrastinating.
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PartySick
3 minutes ago, Lucas said:

Such great news. I hope this can start something because boycotts DO WORK.

Bro's lost more than $100 billion on his net worth and is still terrible every day. I don't think he's smart enough to cut his losses tbh.

Whimsical bitch
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ThisGuyTony
1 hour ago, Teletubby said:

 

The downdraft in Tesla’s stock on Monday was tied to uncertainty surrounding President Donald Trump’s plans on tariffs. Canada and Mexico are key markets for automotive suppliers, and increased tariffs, with the potential for a trade war, will likely affect production and lead to higher prices.

monique.gif

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ALGAYDO
57 minutes ago, AsleepOnTheCeiling said:

I'm hoping for a jail cell personally

Personally, I think a coffin would suit him the best :heart:

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