Tesla’s shares sank on Monday, hitting their lowest point before the election day, as investors recorded the impact of sales decline and increasing protests in relation to the political role from Elon Musk, the managing director.
At the end of the negotiation, the shares of the electric car manufacturer decreased more than 15 percent for the day and more than 50 percent from the top of the mid -December. The loss of the day was the largest for the Tesla stock since 2020 and exceeded 2.7 % on Monday on the S&P 500.
The sharp increase in Tesla’s shares that followed the election of Donald J. Trump as president and Mr Musk’s appointment as a de facto government cost CZAR has evaporated with more than $ 700 billion in stock value.
Investors hoped that Mr Musk’s financial support for the Trump campaign and his links with the White House would benefit Tesla, helping to liquidate regulatory barriers to the company’s autonomous driving technology.
Instead, Mr. Musk’s present presence in Washington proved to be responsible. Investors are worried that Mr Musk has not spent enough time on Tesla’s management when the sales of the company’s cars are sinking.
Tesla has become the goal of increasingly intense protests by people who are angry by Mr Musk’s leadership role in reducing the jobs of Park Rangers and other civil servants, while raising foreign assistance and other programs.
Last week, someone set fire to Tesla charging stations near Boston. The shots were shot at Tesla dealership in Oregon. And the protesters were arrested in a non -violent protest at a Tesla delegation in Lower Manhattan.
The political reaction is at least partially accused of sad sales in Europe last month, including a 76 % reduction in Tesla sales in Germany, the largest car market in Epirus. Mr Musk has approved far -right places in European countries, including Germany. Analysts also attribute that sales are reduced to lack of new models and increasing competition.
In January, Volkswagen sold more electric vehicles outside China from Tesla, according to data released Monday by SNE Research, a South Korean research and counseling company.
Tesla is likely to suffer less than other car manufacturers than the trade crashes caused by Mr Trump, but the company could be a victim of worsening relationships with China. Tesla’s largest plant is located in Shanghai, where the company makes cars for the Chinese market and export to Europe and other areas.
