Tesla’s shares lost 15.4 % of their value on Monday by closing at $ 222.15 each, given the doubts about the company’s performance in the first quarter of the year and the involvement of their CEO, Elon Musk, in the US government.
The losses of this Monday are the worst in the stock markets of the electric vehicle manufacturer since September 2020. Since the beginning of the year, when Musk became an advisor to the US president, Donald Trump, and assumed the direction of the so -called Government Efficiency Department (Doge), responsible for making mass cuts to public spending, Tesla’s actions have lost 41.4 %.
The company, which reached around 1.5 billion dollars of stock market value last December, is now valued at just over 700,000 million dollars.
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Tesla losses exceed very much those experienced on Monday by other values such as NVIDIA, which fell 5.07 %, or Apple, -4.08 %. The Dow Jones index lost 2.08 % and Nasdaq 4 %.
Tesla sales in recent months have been cut in several key markets. The company considers that it is something temporary, the result of the transition to the new version of its most sales vehicle, Model Y.
However, Tesla also suffers image problems due to the growing political prominence of Musk both in the Trump administration and among several extreme right -wing parties around the world. Faced with Tesla establishments in several points in North America and Europe, protest acts have been staged.
And in countries such as Canada, boycott campaigns have been generated to the company for Musk’s statements in favor of the country’s US annexation. While, a parliamentary request to withdraw Canadian citizenship already accumulates more than 360,000 signatures.
The result of all these factors is that, analysts such as those of Banco UBS have cut the price of Tesla’s shares when considering that they are overvalued.
