Stock price is down from December high

Summary

Tesla is facing a steep global sales decline, with drops of 63% in France, 59.5% in Germany, and 11.5% in China.

Analysts attribute this to growing competition, economic concerns, and backlash against Elon Musk’s support for Donald Trump.

Investors worry about potential tariffs from the Trump administration, which Tesla admits could impact its supply chain and profitability.

The company has not released a new model since late 2023, and Tesla stock has fallen from $480 in December to around $350. Some investors call this a “Trump-lash” against Musk and Tesla.

  • Shanedino@lemmy.world
    3·
    5 hours ago

    Glad to see his attempts at power grabbing ate hurting him. Wonder how Facebook is going to soon this one.

    • Scolding7300@lemmy.world
      2·
      2 hours ago

      I still doubt anything will convince ppl to leave fb at this point, with their long history of breaking users trust

  • Floon@lemmy.ml
    10·
    9 hours ago

    TSLA is still up over 2x on the year… the remains work yet to do.

    • partial_accumen@lemmy.world
      13·
      14 hours ago

      His control is contingent on his wealth. A very sizable portion of that wealth is represented by Tesla stock (TSLA). If the stock price declines, his wealth does too. That isn’t to say if Tesla stock went to zero he’d be poor. He’d still be have something like $200B, but that’s less than half what he’s worth right this second.

      • SpaceCowboy@lemmy.ca
        2·
        5 hours ago

        You say that, but a lot of his wealth in other things is from leveraging TSLA. If that drops it might have a cascade effect.

        • partial_accumen@lemmy.world
          3·
          5 hours ago

          I don’t disagree, but even if he lost a further $199B he’d still be a billionaire. There are only 756 billionaire in the USA. By no measure is a billionaire poor.

  • radiohead37@lemmynsfw.com
    56·
    18 hours ago

    It can’t be overstated how toxic Musk is to the Tesla brand. He is alienating the people who are most likely to buy an electric car. He may think that the democrats are in the bag and now he is courting republicans, so he can sell electric cars to them too. Well, the sales numbers speak for themselves.

    • drekloge@lemmy.today
      161·
      16 hours ago

      I bought a model 3 in 2019 thinking I was doing a good thing being a relatively early adopter. Now I’m stuck driving this stupid thing. Who the hell is going to buy a used swasticar?

      • BeigeAgenda@lemmy.ca
        9·
        13 hours ago

        You are excused, as people talk about the Thai cave in 2018 was one of the earlier signs that something was not alright with musk.

        My colleagues brought Teslas in 2023 some months after he brought twitter. And voiced my concerns: Do you know he is weird and is known for disabling cars of people who disagree with him on twitter.

        • AA5B@lemmy.world
          1·
          9 hours ago

          Same here, but I figured he’s the biggest loser for driving Twitter into the ground. I thought even he would be stung losing $40B.

          Now, to my great regret, I love my swasticar 🙁

      • BassTurd@lemmy.world
        3·
        15 hours ago

        I’m not a bumper sticker guy, but I’d plaster a billboard on my Tesla with that information if I were in your position. Can’t have people getting the wrong impression.

  • mtoboggan@feddit.org
    412·
    19 hours ago

    I‘d always planned on buying a Tesla one day. Musk is the main reason for me never to buy one. The lack of support for Apple Carplay is the second one.

    • Ben Hur Horse Race@lemm.ee
      7·
      11 hours ago

      Top Two Reasons to Not Purchase a Tesla EV:

      1. Company run by man who recently openly did the ol’ zieg heil and is helping a monster who led a violent insurrection perform a digital, soft coup from within the halls of power

      2. Won’t work with my fucking iPhone, and buddy, I love this here iPhone

  • AlecSadler@sh.itjust.works
    151·
    17 hours ago

    Good.

    An insane friend of mine put 100% of their 401k into Tesla, they’re way up right now, but continuing to doubling down for some insane reason. May their portfolio rest in pieces.

    • partial_accumen@lemmy.world
      11·
      14 hours ago

      Tesla stock is down 15% in the last 5 days, and as of this writing, 5% just today. If he had $100,000k in his 401k 5 days ago, its only worth $85k right now.

      Tell your friend that Elon’s brother Kimball sold $28 million of Tesla stock 5 days ago right before elon’s announcement he wants to buy OpenAI. Kimball is a Telsa board member. Ask your friend if Elon and Kimball are selling, why is your friend still holding?

      • ripcord@lemmy.world
        1·
        9 hours ago

        They’re up 60% over the last year and more if he has been in longer. He’s likely made a bundle if he sells now. Which is really, really stupid, but it’s true.

        But like you said, there are some signs of sanity with the stock in the last week, so it may be collapsing again. But I really doubt it’ll drop way way more anytime soon. There’s almost zero connection to reality with this stock.