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Tesla shares plunge 14%, head for worst day in five years. Since peaking at $479.86 on Dec. 17, Tesla shares have lost over 50% of their value, wiping out over $800 billion in market cap.
Since peaking at $479.86 on Dec. 17, Tesla shares have lost over 50% of their value, wiping out over $800 billion in market cap.
Tesla is also dealing with brand erosion due to Musk’s incendiary political rhetoric and his extensive work with the Trump administration, where he’s leading up the so-called Department of Government Efficiency. Repeated arson attempts and instances of vandalism occurred at a Tesla store and service center in Loveland, Colorado, most recently on March 7, police told CNBC. Analysts at Bank of America’s wrote in a report on Monday that Tesla new vehicle sales plummeted by about 50% in Europe in January from a year earlier, partly owing to growing distaste for the brand.
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