Tesla Stock Took a Beating After Elon Musk's Epstein Island Revelations
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Tesla Stock Took a Beating After Elon Musk's Epstein Island Revelations
"The exchanges, which took place years after Epstein was convicted of sex crimes against underage girls in 2008, had Musk asking if there was a "good time to visit" Epstein's infamous Caribbean island, and asking him if he had "any parties planned" - blatantly contradicting Musk's prior claims that he'd "declined" Epstein's invitation for him to visit the island."
"Unsurprisingly, Tesla's shares plummeted when trading resumed on Monday, dropping over 3.5 percent in early trading. It's since recovered somewhat, though it's still down to around $426 from highs of about $450 last week - an intriguing sign that even for Musk's most ardent die-hards, his fibs about his true relationships with Epstein could prove too much. That's despite Tesla's car business showing some early signs of recovery across the pond."
"New registrations in some of the company's largest European markets increased significantly this month compared to January 2025. Tesla registered 70 and 75 percent more cars in Spain and Italy, respectively, this year compared to the same period last year. It all comes after a calamitous year for Tesla. While the EV market has grown considerably, the carmaker's market share shrank massively in Europe last year as more would-be buyers became disillusioned with its mercurial CEO's embrace of far-right idealism and meddling in local politics."
The Department of Justice released millions of files from the Jeffrey Epstein investigation that include exchanges between Epstein and Elon Musk. The messages show Musk asking about a "good time to visit" Epstein's Caribbean island and inquiring about "any parties planned," contradicting previous claims that he had declined an invitation. Tesla shares fell more than 3.5 percent when trading resumed, then recovered partially but remained below recent highs. Tesla reported substantial increases in new registrations in Spain and Italy compared to last year. The company lost European market share amid controversy around its CEO, even as valuation rose.
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