Elon Musk seems to be distracted from running Tesla lately and some financial experts are concerned by the stock’s performance (Photo by Apu Gomes/Getty Images)
After weeks of steadily falling, Tesla (TSLA) stock is showing no signs of bucking the bearish momentum pushing it down.
The leading electric vehicle (EV) producer enjoyed notable momentum following President Donald Trump’s November 2024 victory. However, since Trump officially took office, Musk’s antics on Capitol Hill and his work with the so-called Department of Government Efficiency (DOGE) have caused this growth trend to reverse sharply.
Granted, many prominent tech stocks are struggling right now as economic uncertainty continues to push down financial markets. But TSLA stock has fallen further than most of its Magnificent 7 peers, declining more than 33% over the past month.
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