Tesla's shares plummeted over 15%, marking a staggering decline of over 53% since December 23, translating to a loss of $700 billion in market capitalization. This drop comes as the company faces negative analyst outlooks, with concerns over weakening sales leading to adjustment in first-quarter delivery and annual profit forecasts. Broader market fears, heightened by inflation and recession prospects, exacerbate Tesla's challenges. Additionally, Musk reported a significant cyberattack on his platform, hinting at possible political motivations related to ongoing demonstrations against Tesla.
While stocks overall have taken a beating in recent weeks amid tariff threats and inflation fears, Tesla's fall has been especially steep, suffering the biggest decline in the S&P 500 year-to-date.
Musk claimed the recent cyberattack on X was 'massive' and 'coordinated,' suggesting significant resources were used, potentially hinting at involvement from a state actor.
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