$17.2 billion. That's how much was cut from Musk's fortune amid Tesla's stock slide, bringing his net worth below $400 billion to $398 billion, according to Forbes' estimates.
$17.2 billion. That's how much was cut from Musk's fortune amid Tesla's stock slide, bringing his net worth below $400 billion to $398 billion, according to Forbes' estimates.
Tesla Inc.'s stock was on the verge of a technical breakthrough last week, with investors brimming with hope that a return of Chief Executive Elon Musk to headquarters and promises that he'd stay for years to come would benefit the shares.
Shares of Tesla Inc (NASDAQ:TSLA) tumbled nearly 8.6% on Thursday afternoon, wiping out about $82 billion in market value, as investors reacted to a mix of political turmoil surrounding CEO Elon Musk and signs of deteriorating international sales. The sharp drop extends a slide that began after hours on Wednesday, when the stock fell 3.55% following Musk's outspoken criticism of a Republican-led spending bill.
The stock has been on a roller-coaster ever since his endorsement of Trump in mid-July.
Trump has called on Republican senators to approve his policy bill by a July 4 deadline set by Senate leadership.
Trump has called on Republican senators to approve his policy bill by a July 4 deadline set by Senate leadership.
Despite intensifying competition in the EV space, Tesla, Inc.'s profitability remains robust, and its fortress-like balance sheet positions the company to continue innovating aggressively. The business mix is rapidly diversifying, with growth in energy and innovation offsetting intensifying EV competition and supporting resilience. Valuation still offers 42% upside, but significantly less than in March; TSLA fair value is $473, with DCF assumptions sensitive to growth rates.
TSLA's China-made EV sales fall for the 8th straight month in May, hit by a fierce price war.
Tesla (NASDAQ: TSLA) shares dropped 2.6% in pre-market today and as much as 5% in the opening hour as the Tesla chief executive officer (CEO) Elon Musk and President Trump continue to bickle.
Shares of Tesla slid 5% Thursday as CEO Elon Musk continued his relentless pressure on Congress to "KILL" President Donald Trump's spending bill. The drop comes as shares of the EV maker saw a 22% rally in May with Musk wrapping his time as Trump's Department of Government Efficiency, or DOGE.
Electric vehicle (EV) behemoth Tesla TSLA is set to roll out its robotaxi services very soon. Per Bloomberg, the launch is just a week away.