Crazy Flux
  • Business
  • World
  • Stocks
  • Investing
  • Business
  • World
  • Stocks
  • Investing

Crazy Flux

Business

Tesla shares plunge 15%, steepest drop in five years

by admin March 12, 2025
March 12, 2025
Tesla shares plunge 15%, steepest drop in five years

Tesla’s selloff on Wall Street intensified on Monday, with shares of the electric vehicle maker plunging 15%, their worst day on the market since September 2020.

On Friday, Tesla wrapped up a seventh straight week of losses, its longest losing streak since debuting on the Nasdaq in 2010. The stock has fallen every week since CEO Elon Musk went to Washington, D.C., to take on a major role in the second Trump White House.

Since peaking at $479.86 on Dec. 17, Tesla shares have lost over 50% of their value, wiping out over $800 billion in market cap. Monday marked the stock’s seventh worst day on record.

Tesla led a broader slump in U.S. equities, with the Nasdaq tumbling almost 4%, its steepest decline since 2022.

The downdraft in Tesla’s stock on Monday was tied to uncertainty surrounding President Donald Trump’s plans on tariffs. Canada and Mexico are key markets for automotive suppliers, and increased tariffs, with the potential for a trade war, will likely impact 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’s leading up the so-called Department of Government Efficiency. Musk, the world’s wealthiest person, has become the public face of the administration’s effort to dramatically shrink the federal government’s workforce, spending and capacity.

Meanwhile, Musk has used his social network X to level accusations against judges whose decisions he didn’t like and promoted false Kremlin talking points about Ukraine President Volodymyr Zelenskyy.

Activists and former Musk fans have protested at Tesla facilities throughout the U.S., and Tesla vehicles and facilities have been the apparent targets of vandalism and arson attempts. Repeated arson attempts and instances of vandalism occurred at a Tesla store and service center in Loveland, Colorado, most recently on March 7, police told CNBC.

Ben Kallo, an analyst at Baird, told CNBC’s “Squawk on the Street” on Monday that recent reports of vandalism could hurt demand.

“When people’s cars are in jeopardy of being keyed or set on fire out there, even people who support Musk or are indifferent Musk might think twice about buying a Tesla,” Kallo said.

Analysts at Bank of America’s wrote in a report on Monday that Tesla new vehicle sales plummeted by about 50% in Europe in January from a year earlier, partly owing to growing distaste for the brand. The firm also noted that some prospective customers are waiting for the new version of the Model Y.

Tesla’s Model Y, which is a small SUV, remained the best-selling battery electric vehicle globally in January. It was followed by China’s Geely Geome, which surpassed the Tesla Model 3 sedan for the month.

Global sales of electric vehicles, including fully electric and plug-in hybrid models, increased 21% in January from a year ago, even as Tesla’s sales declined. The growth was driven by demand in Europe, according to Bank of America.

— CNBC’s Jesse Pound contributed to this report.

This post appeared first on NBC NEWS

previous post
Volcano eruption in Guatemala forces hundreds to evacuate
next post
Rules for repaying Social Security benefits are about to get stricter. Here’s what to know.

Related Posts

Amazon’s Nova AI agent launch puts it up...

April 1, 2025

U.S. judge orders Google to share search data...

September 3, 2025

Dollar General is shaking off tariff fears and...

June 4, 2025

How crazy popcorn buckets became big business for...

February 20, 2025

A top Federal Reserve official says bleak jobs...

August 12, 2025

Keurig Dr Pepper to buy Peet’s Coffee owner...

August 26, 2025

U.S. could take stakes in more firms, White...

August 26, 2025

Inflation picks up again in June as tariffs...

July 17, 2025

Microsoft’s Satya Nadella says job cuts have been...

July 26, 2025

Crop tour projects record 2025 U.S. corn harvest,...

August 24, 2025

    Join our mailing list to get access to special deals, promotions, and insider information. Your exclusive benefits await! Enjoy personalized recommendations, first dibs on sales, and members-only content that makes you feel like a true VIP. Sign up now and start saving!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent

    • The Real Drivers of This Market: AI, Semis & Robotics

      September 4, 2025
    • S&P 500 Breaking Out Again: What This Means for Your Portfolio

      September 4, 2025
    • Option to acquire 888km2 Au/Cu project in WA

      September 4, 2025
    • New mineralised pegmatites identified at Lithium Ridge as exploration drilling commences with SQM

      September 4, 2025
    • Canada’s Stealthy AI Strategy: Why the Future is B2B, Not Just Chatbots

      September 4, 2025
    • Ken Hoffman: Gold’s Path is Clear, Price to Hit US$10,000 Long Term

      September 4, 2025
    • About us
    • Contacts
    • Privacy Policy
    • Terms and Conditions
    • Email Whitelisting

    Disclaimer: crazyflux.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2025 crazyflux.com | All Rights Reserved