Tesla Inc. (NASDAQ:TSLA) saw its market capitalization fall below the symbolic $1 trillion mark on Tuesday as shares plunged 8.39% to $302.80, bringing the company’s valuation to $948.81 billion.
What Happened: The electric vehicle maker first reached the trillion-dollar milestone om Nov. 8, days after President Donald Trump‘s election victory. Since then, Tesla has lost significant ground, with shares down 36.0% from their Dec. 17 high of $473.86 and falling 28.59% since Trump’s Jan. 20 inauguration.
Some investors point to CEO Elon Musk‘s Washington commitments as a key factor in the decline. Musk has been spending considerable time in the capital leading Trump’s Department of Government Efficiency (DOGE), where his aggressive cost-cutting measures have resulted in federal worker layoffs and nationwide protests.
Musk’s net worth has dropped over $74 billion this year but remains the world’s highest at $358 …
Full story available on Benzinga.com
Tesla Inc. (NASDAQ:TSLA) saw its market capitalization fall below the symbolic $1 trillion mark on Tuesday as shares plunged 8.39% to $302.80, bringing the company’s valuation to $948.81 billion.
What Happened: The electric vehicle maker first reached the trillion-dollar milestone om Nov. 8, days after President Donald Trump‘s election victory. Since then, Tesla has lost significant ground, with shares down 36.0% from their Dec. 17 high of $473.86 and falling 28.59% since Trump’s Jan. 20 inauguration.
Some investors point to CEO Elon Musk‘s Washington commitments as a key factor in the decline. Musk has been spending considerable time in the capital leading Trump’s Department of Government Efficiency (DOGE), where his aggressive cost-cutting measures have resulted in federal worker layoffs and nationwide protests.
Musk’s net worth has dropped over $74 billion this year but remains the world’s highest at $358 …
Full story available on Benzinga.com
Tesla Inc. (NASDAQ:TSLA) saw its market capitalization fall below the symbolic $1 trillion mark on Tuesday as shares plunged 8.39% to $302.80, bringing the company’s valuation to $948.81 billion.
What Happened: The electric vehicle maker first reached the trillion-dollar milestone om Nov. 8, days after President Donald Trump‘s election victory. Since then, Tesla has lost significant ground, with shares down 36.0% from their Dec. 17 high of $473.86 and falling 28.59% since Trump’s Jan. 20 inauguration.
Some investors point to CEO Elon Musk‘s Washington commitments as a key factor in the decline. Musk has been spending considerable time in the capital leading Trump’s Department of Government Efficiency (DOGE), where his aggressive cost-cutting measures have resulted in federal worker layoffs and nationwide protests.
Musk’s net worth has dropped over $74 billion this year but remains the world’s highest at $358 …Full story available on Benzinga.com Read MoreDoge, Donald Trump, electric vehicles, Elon Musk, Equities, News, TSLA, Markets, TSLA, US88160R1014, News, Equities, Markets, Benzinga Markets
