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Tesla Inc. ($TSLA) Stock: Slides 8% Amid Trump-Musk Rift and EV Market Woes
Tesla’s stock price has dropped a staggering 8% to $304.35, as the company faces significant headwinds from both the political front and an increasingly competitive electric vehicle (EV) market.
The decline in value comes amid a public feud between Tesla CEO Elon Musk and former US President Donald Trump, which has raised concerns about the potential impact on Tesla’s regulatory flexibility. The rift began when Trump publicly criticized Musk for his opposition to a controversial tax bill, which could negatively affect Tesla’s prospects.
As investors are now left reeling from the unexpected development, it is essential to assess the broader implications of this situation and how they may influence the stock’s future performance.
In addition to these external factors, the EV market has also seen significant changes in recent times. This includes a major downturn in UK sales for Tesla, with a decline of 36% compared to last year’s figures. In contrast, Chinese competitor BYD has shown remarkable resilience, as its UK sales surged by an astonishing 407%.
Source: coincentral.com
