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Tesla’s The massive sale in Wall Street intensified on Monday, with actions of the manufacturer of electric vehicles that submerge 15%, its worst day in the market since September 2020.
Friday, Tesla taken A seventh consecutive loss week, its longest losing streak since it debuted at Nasdaq in 2010. The action has fallen every week since the CEO. ELON ALMIZCLE I went to Washington, DC, to assume an important role in Trump’s second White House.
Since it reached its maximum point at $ 479.86 on December 17, Tesla shares have lost more than 50% of its value, eliminating more than $ 800 billion in market capitalization. Monday marked the seventh worst day of the registered action.
Tesla led a broader depression In US actions, with Nasdaq falling almost 4%, its greatest decrease since 2022.
During an interview at Fox Business After Hours on Monday, Musk was asked how he manages to direct his business while fulfilling his role in Trump’s White House. He said he is doing it “With great difficulty.”
In addition to Tesla’s problems, Musk X’s social network experienced Several cuts Throughout Monday, and its aerospace and defense company Spacex is investigating two Explosions In a row that occurred during proof flights of its huge spacecraft rocket.
Musk also said during the interview that he hoped to remain in the Trump administration for another year. After transmission, he Posted in x that “it will be well in the long term,” refers to the strong decrease in the price of Tesla shares.
The descending current in Tesla’s actions on Monday was linked to the uncertainty that surrounds President Donald Trump’s Rate plans. Canada and Mexico are key markets for automotive suppliers, and the increase in tariffs, with the potential of a commercial war, will probably 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 the so -called government efficiency department. Musk, the richest person in the world, has become the public face of the administration’s effort to drastically reduce the workforce, expense and ability of the federal government.
Meanwhile, Musk has used X to level accusations against judges whose decisions did not like and promoted the false points of Kremlin conversation about Ukraine president, Volodymyr Zelenskyy.
The activists and former Musk fans have protested at Tesla’s facilities in the United States, and Tesla’s vehicles and facilities have been the apparent objectives of vandalism and the fire attempts caused. The repeated fire attempts and vandalism instances occurred in a store and Tesla service center in Loveland, Colorado, more recently on March 7, police told CNBC.
Ben Kallo, Baird analyst, told CNBC “GRAZNATE IN THE STREET“On Monday that recent vandalism reports could damage demand.
“When people’s cars are in danger of being turned off or burned, even people who support Musk or are indifferent that Musk might think twice before buying a tesla,” Kallo said.
Bank of America analysts wrote in a report on Monday that the new sales of Tesla vehicles collapsed around 50% in Europe in January of the previous year, partly due to a growing disgust by the brand. The firm also pointed out that some potential clients are waiting for the new version of the Y.
The model and Tesla, which is a small SUV, remained the best -selling electric battery vehicle worldwide in January. It was followed by Geely Geome of China, which exceeded the Tesla Model 3 sedan for the month.
Global sales of electric vehicles, including totally electric and plug -in hybrid models, increased 21% in January for a year, even when Tesla sales decreased. The growth was driven by demand in Europe, according to Bank of America.
– Jesse Pound of CNBC contributed to this report.
