Tesla shares dropped 15% on Monday (10), marking the worst day for the electric vehicle manufacturer on Nasdaq since September 2020.
Tesla had its worst day on Nasdaq on Monday (10), with the company’s stock plunging 15%, the biggest drop since September 2020.
On Friday (7), Tesla closed its seventh consecutive week of losses, the longest losing streak since 2010, according to CNBC.
The company’s shares have been falling since Elon Musk, the company’s CEO, took over the Government Efficiency Department, created by Donald Trump in his second term.
Tesla shares have lost more than half of their value in four months, wiping out over $800 billion in market capitalization, according to the report. The company reached a valuation of $1.5 trillion in December 2024.
According to CNBC, the decline is linked to uncertainty surrounding President Trump’s plans for tariffs against Canada and Mexico, key markets for automotive suppliers.
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