Reported 3 days ago
Elon Musk's announcement of launching the America Party has caused Tesla (TSLA) shares to decline by about 7%, bringing its market cap below $1 trillion. Investors are concerned that Musk's political ambitions may distract him from addressing Tesla's current challenges, including a slowdown in demand and delays in AI and robotaxi projects. Additionally, impending changes to EV tax credits could further impact Tesla's competitiveness, leading analysts to downgrade the stock and suggest a cautious outlook.
Source: YAHOO