Tesla Stock Plummets 8%, Market Cap Below $1 Trillion
Tesla’s stock has plummeted over 35% from its record high, fueled by disappointing performance in China, where its automated driving system fell short of expectations and faces cheaper competition. Negative impacts also stem from lower-than-expected fourth-quarter earnings, decreased sales across multiple markets, and concerns surrounding CEO Elon Musk’s political activities and influence within the Trump administration. These factors, coupled with reduced average selling prices and a general market downturn, have significantly impacted Tesla’s market capitalization. The company’s stock is currently trading at approximately 20% above its pre-Trump election levels.
John Q. Hosedrinker