Tesla’s sell-off on Wall Street intensified on Monday, with shares of the electric vehicle maker plunging a whopping 15%, marking their worst trading day on the market since September 2020
On Friday, Tesla wrapped up a seventh straight week of losses, its longest losing streak since debuting on the Nasdaq in 2010. The stock has fallen every week since CEO Elon Musk went to Washington, D.C., to take on a major role in the Trump ‘2’ White House.
Since peaking at $479.86 on 17th December 2024 Tesla shares have lost more than 50% of their value, wiping out upward of $800 billion in market cap. Monday 10th March 2025 marked the stock’s seventh worst day on record.
Tesla 3 month share chart as of close 10th March 2025 – down a total of 50% and 15% in one day
Tesla led a broader slump in U.S. equities, with the Nasdaq tumbling almost 4%, its steepest decline since 2022.
During an interview on Monday 10th March 2025, Musk was reportedly asked how he manages to run his businesses while fulfilling his role in the Trump White House. He reportedly said he’s doing so – ‘with great difficulty’.
In addition to Tesla’s troubles, Musk’s social network X experienced several outages throughout the day on Monday 10th March 2025, and his company SpaceX is investigating two explosions in a row that occurred during test flights of its massive Starship rocket.
Elon Musk is also reported as saying that he expects to remain in the Trump administration for another year. He posted on X that ‘It will be fine long-term’, referencing Tesla’s steep stock price decline.