Tesla's Postelection Performance
Tesla's postelection pop has almost disappeared as shares of the electric vehicle maker plunged more than 8% on Tuesday, pushing the company's market cap below $1 trillion. CEO Elon Musk has lost over $100 billion in net worth, although he remains the world's richest person.
Key Points
- Tesla's stock has dropped over 35% from its record close in December
- Tesla's sales dropped in the fourth quarter of 2024 in California
- Elon Musk has lost over $100 billion in net worth
Pros
- Tesla remains a prominent player in the electric vehicle market
- Elon Musk is still the world's richest person despite losses
Cons
- Tesla's stock has plummeted 25% to start the year
- Concerns about Tesla's partially automated driving systems in China