Tesla shares have dropped dramatically since peaking in December, and Tuesday's decline pushed the company's market cap below $1 trillion.

KEY POINTS

  • Tesla shares sank 8% on Tuesday and have now lost most of their gains that followed Donald Trump’s election victory in November.
  • The stock has plunged 25% this year, while the Nasdaq is down just 1.5%.
  • Reuters reported on Monday that the company’s long-awaited upgrade of its partially automated driving system in China left owners unimpressed.
  • @cmac
    61•3 days ago

    Wow, now they’re only worth as much as the next 10 largest auto manufacturers combined. Their market cap is completely disconnected from reality. They should not be worth 4 times as much as Toyota.

    • @gibmiser
      11•3 days ago

      Well when they get the contract to manufacture us military personnel carriers the grift will be lucrative

      • partial_accumen
        9•3 days ago

        I saw that headline, but then I saw this one:

        GSA to shut down federal EV chargers nationwide

        Isn’t it going to be difficult to operate EV armored cars without chargers access to government chargers, as in, at government locations? Are these new armored EVs supposed to charge at a Tesla Supercharger in a Walmart parking lot?

        • Bob Robertson IX English
          8•3 days ago

          It’s almost as if the point isn’t to produce anything useful, but to move money from the tax payers to the ruling class.

        • @gibmiser
          2•3 days ago

          Inefficiency and incompetency is big money. They can fuck it all up now, and half ass fixing it later, for a premium too!