Tesla Stock Marks 5 Straight Days of Losses [View all]
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
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