Tesla's stock falls deeper

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Tesla's stock falls deeper

27-12-2024 11:39

Tesla's stock falls deeper

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Tesla's stock falls deeper

Tesla, the largest American company, is tumbling again! This is bad news!

According to CNBC, Tesla shares have dropped nearly 5% and are still falling. There is no end in sight!

Analysts report that Tesla’s stock fell almost 5% in US pre-market trading. Just last Wednesday, December 18, it had already plummeted by 8%. Experts note this was Tesla’s worst day since Republican Donald Trump’s victory in the US presidential election.

Let us not forget that right after the defeat of Democrat Kamala Harris, Tesla’s shares skyrocketed. The fact is that investors were hopeful that the company would dominate the market thanks to the close ties between CEO Elon Musk and Trump.

It is worth recalling that Musk was Trump’s biggest supporter during the US election race. The businessman poured $277 million into the Republican's campaign.

Previously, Tesla’s CEO was recognized as the first businessman in history to amass over $400 billion. After Trump’s election win, Tesla’s stock surged by 65%.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

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