Tesla's shares fell nearly 11%, marking their lowest point since before the election, as the company faces declining sales and increasing scrutiny due to CEO Elon Musk's political involvement. Investors are concerned that Musk's focus on politics detracts from managing the company amid sales drops, highlighted by a 76% decline in Tesla sales in Germany. Additionally, protests against Musk's alleged role in job cuts have intensified, impacting public perception. The overall stock value has decreased by more than $700 billion since its peak as competition in the electric vehicle market rises.
Tesla's shares fell sharply due to declining sales, political backlash against Elon Musk, and increasing competition in the electric vehicle market, leading to investor concerns.
Investors had hoped Musk's relationship with the Trump administration would aid Tesla, but his political involvement became a liability as sales declined significantly.
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