Tesla stock takes a hit; Musk loses $102 billion in two months

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29. Tesla's stock nosedives -- wiping out $700B in gains since Trump's election victory

This makes me smile

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https://nypost.com/2025/03/07/business/tesla-stock-drop-erases-700b-in-gains-since-trump-election/

Tesla’s stock continued its weeks-long nosedive on Friday as Elon Musk’s electric vehicle maker erased $700 billion in gains that had accumulated since the US presidential election.

Tesla’s shares had dropped by as much as 4.6% on Friday morning before recovering somewhat in the afternoon session — positioning them to wipe out the $700 billion surge they had enjoyed post-election.

Tesla’s stock has fallen by more than 28% in the last month. Since Jan. 1, the stock is down nearly 32%.....

Additionally, some investors fear that Musk’s increasing involvement in politics is diverting his focus from leading the company.

“The bet on Tesla’s shares soaring due to Musk’s political involvement has not worked out thus far,” Adam Sarhan, founder of 50 Park Investments, told Bloomberg News.

“Investors who initially anticipated massive benefits from Musk’s political involvement got too excited, and now cooler heads are prevailing.”

Tesla’s struggles are compounded by a challenging macroeconomic environment.