15:04 8 March 2025
Tesla Stock Drops Weekly Since Musk Joined Trump Administration
CNBC reports that Tesla’s stock has fallen for seven consecutive weeks since Elon Musk joined Trump’s administration – closing Friday at $270.48 – its longest losing streak in 15 years.
Since peaking at $480 in December, Tesla has lost over $800 billion in market value. Bank of America and Goldman Sachs cut price targets – citing declining EV sales in Europe, China, and the U.S..
Analysts warn Musk’s political role creates uncertainty for Tesla. His leadership in Trump’s Department of Government Efficiency (DOGE) has sparked protests and vandalism at Tesla sites.
Despite the sell-off, Wedbush’s Dan Ives sees Trump-era deregulation as a Tesla advantage – setting a $550 price target. TD Cowen predicts Tesla’s 2025 – 2026 production cycle could restore investor confidence.
(PAP)
