4mo ago

Tesla shares plunge 15%, suffering steepest drop in five years

www.cnbc.com

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.

16 comments

Skinner meme.
Was it a bad idea to have a ketamine addicted far right lunatic as ceo
No, it’s the markets who are wrong.
- 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
  
  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
A board doing its job would fire Musk as CEO.
He'd still have his shares, but clearly he is not benefitting the company right now.
- They have the power to fire musk as CEO and they are choosing not to. They risk being sued by shareholders for breaching their fiduciary responsibility.
  
  It is their fiduciary duty to fire him, but I get what you mean and agree I guess.
  Just how much of shareholders' support of Musk grassroots, though? I imagine large institutions wouldn’t care if he’s out as CEO or not, as long as it’s financially optimal.
- the board is made up of cronies, like is brother.
  This is why you don't hire yes-men.
I love this chart. The vommit emoji is Jan 21st- the day after Musk's Nazis Salute (markets were closed on the 20th.)
The context is that TSLA had been on an upward tear; met some resistance (no surprises there,) and I would have expected to to bounce around at that level for a bit before going one way or the other. It did start going up again... and then... bam... Nazis Salute.
And this is why any other CEO would have been fired, but the people who hold TSLA stock are either cultists or grifters.
- I hate that it took a Nazi salute.
  The intense amount of lying through the years, the racism, the shitty work conditions, the low quality cars, all of the software problems, the lawbreaking, the attempts at subverting the worker market… all that was fine apparently.
  
  sure.
  I'm with you. but I do enjoy that chart all the same. Musk has always been an asshole ruining other people's shit. It was nice of him to fire his PR staff that was keeping the majority of people from realizing that.
Should be interesting to see what impacts this has.
Most of Musk's power comes from being able to leverage shares at a given price. Most of that share value is, well, preposterous. Something something the future something something value something something not actually a car company whatever.
The only interesting thing here is if this impacts his ability to wield power.
This is just the start, it will get a lot worse for them when their new earnings report gets released next month
- I'm excited for this. Will they just pull an Enron and fudge the numbers? Or will they present the real numbers and just take it. Will there be an earnings call with investors?
I wish I had the insight to short a couple of shares, but after the election it was at it's peak and I just had absolutely no faith in humanity to turn that around.
Those are rookie numbers!!! Drop the floor on that bitch!

16 comments