(DCWatchdog.com) – In a striking development, Tesla shares tumbled 15% on March 10, marking the steepest single-day drop since September 2020.
See the tweet below!
This decline erased post-election gains and highlighted growing concerns about the company’s financial health and strategic direction.
Tesla’s stock closed at $222, plummeting over 15%, the lowest since October 23, erasing a 91% gain achieved after Trump’s election victory.
This dramatic fall is Tesla’s worst percentage loss since 2020, marking the 7th-worst day in its public market history.
Investor jitters continue amid a Wall Street selloff driven by uncertainties surrounding Trump’s economic policies, causing the Nasdaq Composite to drop 4%.
Further adding to Tesla’s woes, UBS analyst Joseph Spak projected a 5% decline in the company’s 2025 vehicle deliveries, countering a consensus forecast of a 12% growth.
Expectations for Tesla have shifted dramatically since December when optimism about Trump’s favorable policies led to a 53% surge from its all-time high.
Now, Elon Musk’s net worth has plummeted by $23 billion, a staggering $145 billion drop from his peak.
“Monday was Tesla’s worst percentage loss since September 2020 and the 7th-worst day in the company’s 15-year history on public markets, according to FactSet data,” Forbes reported.
Despite these challenges, some analysts remain optimistic about Tesla’s long-term prospects.
Wedbush analyst Dan Ives reiterated an Outperform rating with a $550 price target, emphasizing Tesla’s transformative plans in AI and robotics.
Morgan Stanley analyst Adam Jonas also maintained a bullish stance, forecasting shares to rise to $430 as the company diversifies beyond automotive manufacturing.
Tesla’s market capitalization has plummeted by almost $800 billion from its December peak, as recent reports reveal declining sales in key regions like China and Europe.
Tesla is facing increasing competition from domestic rivals like BYD Co., contributing to a 49% drop in February shipments from Shanghai.
UBS analysts cite softer demand for Model 3 and Model Y vehicles, lowering their price target for Tesla to $225 from $259.
“Our UBS Evidence Lab data shows low delivery times for the Model 3 and Model Y (generally within 2 weeks) in key markets which we believe is indicative of softer demand,” UBS says, cited by Yahoo Finance.
The Tesla saga doesn’t end with the stock market. Protests erupted at Tesla showrooms in response to Musk’s association with the Department of Government Efficiency, a Trump administration initiative.
This move, along with tariffs impacting Tesla’s operations in China, has sparked brand reputation concerns.
A recent Quinnipiac poll found that 53% of voters oppose Musk’s role in the Trump administration.
Elon needs to get out of the White House and go fix his companies. He’s doing a disservice to shareholders and investors. 15% drop in Tesla stock in a day is no joke pic.twitter.com/wIb3P7NZkU
— SHANDOOKIE (@sendpornLTC) March 10, 2025
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