Tesla Stock Marks 5 Straight Days of Losses

[EarthFirst]

Shares of the electric-vehicle maker closed down about 4% at $290.78.

It was the stock’s fifth consecutive drop and lowest close since Nov. 6, the day after the presidential election. Shares lost almost 20% during the streak, catalyzed by weak U.S. and European sales data while CEO Elon Musk spent more time in Washington spearheading the Department of Government Efficiency—DOGE.

On Tuesday, shares dropped 8.4% after Tesla’s European sales dropped 45% year over year in January; overall EV sales in Europe rose 37%.

Weakening sales have been wearing on investors. Coming into Wednesday trading, Tesla stock was down 37% from its record closing high of just under $480 reached on Dec. 17. That drop has wiped out roughly $570 billion in market value. On Tuesday, Tesla’s market value closed below $1 trillion for the first time since early November. Shares were also down about 29% since the Jan. 20 inauguration. That decline works out to about $400 billion in market value.

https://www.barrons.com/articles/tesla-stock-price-chart-trump-eb339749

[dchill]

1. That's not enough for me, yet. But fingers crossed!🤞

[edhopper]

2. Let me know

when it is priced like an auto maker and not a tech company. Should be around $30 a share.

[hatrack]

7. Yeah, boring old car companies - making cars and profits

As opposed to building tunnels for your cars to drive around in, or pimping imaginary Mars colonies, or imaginary improvements in neurology.

[dalton99a]

11. +1

[modrepub]

3. Hopefully His Banks

will start clamoring for more of his assets as collateral on his loans. Using stock as collateral for loans can be risky if they suffer significant declines in value (margin call).

Probably a pipe dream but I can hope Tesla's board gives him a BTO order at some point.

[flvegan]

4. Oh no!

Anyway.

[Blue Owl]

5. Hope this is just the start of a massive nosedive

[msongs]

6. patriots don't buy teslas...or use twitter nt

[ProfessorGAC]

8. Yet, Still Up Over 36%...

...in the last 6 months.
This appears to be a long overdue correction as investors start selling because they see the crest of the wave coming.
It's so overvalued that it has volatility we're not used to seeing.
BTW: Their market cap is still almost 9x assets. A car maker (essentially) still being trading as a tech company.

[edhopper]

9. Exactly

And their PE is over 100, instead of 7-10 like and auto maker.

[LetMyPeopleVote]

10. Look where Tesla closed today

Link to tweet

[milestogo]

12. May it keep going down until it is utterly worthless.

[alarimer]

13. Good. Hope it tanks

It's not falling fast enough.