Tesla's stock price has seen a significant decline of over 10%, dropping almost 5% on a recent Monday amidst various challenges facing the company. With CEO Elon Musk focusing on government affairs, investors are concerned about Tesla's market share loss in Sweden and Norway despite increased demand. Reported sales dropped by 44% in Sweden and 38% in Norway. Added to this, looming tariffs on parts from Canada and China threaten the company’s profitability, further exacerbated by a disappointing earnings report with revenues below expectations.
The steady drop in Tesla's stock is indicative of the company's challenges, including lost market share in key regions and uncertainties regarding trade tariffs.
CEO Elon Musk has dedicated significant time to government affairs, which may divert his focus from Tesla, compounding the company’s current struggles.
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