Tesla’s actions had been in tears since Donald J. Trump won the presidential elections. Investors were betting that the car manufacturer would benefit from over $ 250 million that its CEO, Elon Musk, spent to support the Trump campaign.
But a drop of 8 % of Tesla’s actions Tuesday almost swept away what remained of that event. The investors who once thought that Mr. Trump could help eliminate the regulatory obstacles for Tesla’s autonomous driving technology have worried that Mr. Musk is spending too much time in Washington while Tesla’s sales precipitate.
They also worry that the immersion of Mr. Musk in the right politics, including his approval of a far -right party in Sunday’s German elections, is alienated a significant number of buyers. In the United States, some Republicans have also been alarmed for the cutting of Musk’s cutting and burning costs as head of the so -called government efficiency department.
The drop in actions, which extracted Tesla’s market value below $ 1 trillion, threatened Musk’s status as the richest person in the world because much of his wealth is in Tesla actions. And the drop will arouse further disorders between investors and employees who are upset that Musk has not articulated a plan to stop a constant erosion of the market share in the United States, Europe and China.
The shares closed at $ 302.80 Tuesday, the lowest from 7 November, two days after the elections. This dropped 37 percent from an $ 479.86 peak at the end of December 17th.
Tuesday’s losses were at least partially a reaction to a catastrophic decline in the European sales of Tesla, which decreased by 50 % in January compared to the previous year, according to the recordings of the new cars secreted by the European Association of Car Manufacturers . Tesla sales decreased in the region even if the overall market for electric vehicles has increased by 34 percent, according to a report by the Association Tuesday.
Tesla’s performance recently shaken the faith of some investors who have long been optimistic about the company’s prospects. Gary Black, CEO of Future Fund, who has 488,000 followers on X, said on the social network on Sunday that he had been “erroneously bullish” about Tesla “for four years.”
Black observed that the sales of the cybertruck pickups, the new Tesla vehicle, were disappointing and that the company was forced to cut prices for its model 3 sedan and the Model Y Sports Util vehicle to support sales, deeply reducing profit.
But he said that his company still owned the Tesla shares and that he expected to recover at $ 380 in six-12 months.
On Tuesday, Wall Street analysts said they saw the drop in Tesla shares as a return to the trajectory in which they were before the post-electoral rebound.
Tesla has provided for a growth in vehicle sales this year and sales data from Europe suggest that the car manufacturer could instead see a drop.
“It is a sign that Tesla perhaps will not see the growth of deliveries to which the management has guided in the last quarters,” said Seth Goldstein, analyst of Morningstar.
Mr. Goldstein said that it was too early to definitively say what has an impact on Mr. Musk’s political activities and close ties with Mr. Trump are having on Tesla.
“It is always a risk if he wants to continue to wade in politics that has removed some consumers, and I think there is some concern on the market that the Tesla brand may not be resounded as much with customers,” he said.
So far, added Goldstein, has not seen tangible evidence that would indicate a weakening of the brand in the US market, even if it seems more likely that it can happen in Europe.
Tesla is facing a growing competition there, both by European car manufacturers and by Chinese producers that offer long -haul electrical models at prices comparable to that of Tesla.