Tesla’s (TSLA) shares experienced a significant selloff on Monday, March 10, dropping more than 15% in their worst trading day since September 2020. The electric vehicle manufacturer has now faced seven consecutive weeks of losses — its longest losing streak since its 2010 Nasdaq debut.
The decline began shortly after CEO Elon Musk assumed his role in President Donald Trump’s administration as head of the Department of Government Efficiency (DOGE). Since peaking at $488.54 in mid-December, Tesla has lost more than 50% of its value, erasing approximately $800 billion in market capitalization. When asked by Fox Business how he’s managing his businesses while fulfilling his White House duties, Musk admitted he’s doing so “with great difficulty.”
