Topline
Tesla stock officially traded lower Monday than it did ahead of President Donald Trump’s November victory, wiping out what was once a 91% gain for shares of the electric vehicle company run by Trump lieutenant Elon Musk, as Tesla becomes the face of the ongoing stock market slide.
Tesla CEO Elon Musk speaks at a Tesla event in 2022.
Getty ImagesKey Facts
Shares of Tesla declined more than 15% to $222, closing at their lowest share price since Oct. 23, two weeks before the election.
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.
The dive came as part of broader losses tied to concerns about Trump’s economic policies, as the tech-concentrated Nasdaq Composite dropped 4% and crossed into 10% correction territory.
And driving down Tesla shares specifically was a note from UBS analyst Joseph Spak calling for Tesla’s 2025 vehicle deliveries to decline by 5%, which would be the second consecutive year of negative growth for Tesla, moving against consensus analyst forecasts of 12% vehicle delivery growth this year.
Tesla stock is down more than 53% from its all-time high set in December, when its share price took off on the prospect of friendly Trump administration policies toward the heavily regulated company.
Big Number
$145 billion. That’s how much lower Musk’s $319 billion net worth is than his record $464 billion set in December, according to our latest calculations. Musk, Tesla’s largest shareholder, is still worth roughly $110 billion more than any other person on Earth. Musk’s net worth fell by $23 billion Monday amid Tesla stock’s drop.
Surprising Fact
Tesla stock is down 12% since Election Day. Its market capitalization is down close to $800 billion from its December peak.
Key Background
Musk, who donated $288 million toward Trump and other GOP election efforts, has dedicated much of the last few months to his position as the head of the Department of Government Efficiency (DOGE), a commission Trump created to oversee cost cutting and government employee layoffs. Tesla is one of the American firms most directly affected by Trump’s tariffs, as China is the company’s second-largest market and Tesla’s cars rely on parts from Canada, China and Mexico. Beyond tariffs, Tesla stock has been weighed down by reports of significantly lower sales to open 2025 in China and Europe as analysts warn Musk’s outspoken politics are eating into Tesla’s brand reputation.
Further Reading
