this post was submitted on 10 Mar 2025
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Economics

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Tesla shares plunge 15%, suffering steepest drop in five years (www.cnbc.com)
submitted 4 months ago by MicroWave@lemmy.world to c/economics@lemmy.world
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Summary

Tesla shares plunged 15% on Monday, marking their worst single-day drop since 2020 and extending a seven-week losing streak.

The stock has fallen over 50% since December, wiping out $800 billion in market value.

The decline follows uncertainty over Trump’s tariff policies, brand erosion linked to Elon Musk’s political activism, and reports of vandalism targeting Tesla vehicles.

Tesla's European sales dropped 50% in January, while global EV sales rose 21%. Analysts warn that negative sentiment and delayed Model Y purchases may further impact demand.

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[–] pennomi@lemmy.world 15 points 4 months ago (1 children)

Imagine being an anti-fossil fuel company and alienating your entire customer base by keeping a far-right winger as CEO.

Absolutely stupid and predictable

[–] sp3tr4l@lemmy.zip 3 points 4 months ago

There is actually a small, but focused drive to attempt to oust Musk and reinstate the original Tesla founders:

https://youtube.com/watch?v=OjJxL5eGJO8