In recent times, Tesla’s stock has seen a significant decline, closing at $222.15, which is down by about 55% compared to its all-time high of $479.86 on December 17. This downward trend continued today as the stock lost more than 15% of its value since opening. It’s evident that CEO Elon Musk’s behavior is finally catching up to Tesla.
The optimism surrounding Tesla’s ability to deliver on its autonomous car dreams, fueled by the election of President Donald Trump, seems to have dissipated. The once soaring stock price has plummeted, wiping out $800 billion of market value within a span of just three months.
Amidst this financial turmoil, the updated Tesla Model Y is set to go on sale this month. However, the company is facing growing protests, with incidents like the burning of a Tesla dealership in Toulouse and arrests of protestors in New York City and Chicago. Musk even took to Twitter to claim that the protestors were paid by billionaire George Soros.
The sinking stock prices and ongoing protests indicate that Musk’s controversial actions are negatively impacting Tesla’s sales and perception. Even top executives like Tesla’s CFO and board members are selling off significant amounts of stock, signaling a lack of confidence in the company’s future.
In addition to these challenges, Tesla’s sales are crashing in Europe, and the success of the new Model Y in China remains uncertain despite initial preorders. The company’s focus on full self-driving promises has yet to materialize, and Musk’s involvement in various controversies has tarnished the brand’s image.
As Tesla enters the end of the first fiscal quarter of 2025, there is a sense of impending doom surrounding the company. Despite being a leader in the EV market, Tesla’s future is uncertain as sales decline and the stock price continues to fall.
Ultimately, the responsibility for Tesla’s current predicament falls on Elon Musk. His controversial actions and involvement in political and cultural issues have overshadowed the company’s innovations and achievements. As Tesla grapples with these challenges, the road ahead looks increasingly uncertain.