Tesla’s stock dropped over 15%, wiping out its post-election gains following a lowered delivery forecast from analysts. The decline has intensified in recent weeks, bringing Tesla’s market value down to approximately $715 billion.
Despite Elon Musk’s ambitious promises of advancements in self-driving cars and robotics, Tesla recorded its first decline in deliveries in over a decade. The company’s stock, which peaked at around $480 in mid-December, has now fallen to $222.
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Musk’s fortune, largely tied to Tesla’s stock, faces potential risks as he uses his shares as collateral for loans. His estimated net worth stands at approximately $300 billion, keeping him among the world’s wealthiest individuals.
Meanwhile, former US President Donald Trump recently expressed support for Musk, announcing plans to purchase a new Tesla. Trump accused political opponents of targeting Tesla, claiming they were trying to harm the company’s success.
