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Tesla (TSLA) stock took a significant hit on Monday, March 10, plummeting more than 15.4% in what turned out to be its worst trading day in years. The selloff follows mounting fears of a potential recession, fueled by concerns over President Donald Trump’s tariff policies, a price target cut from a Wall Street analyst, and disappointing sales figures from key international markets like Europe and China. Adding to the concerns, CEO Elon Musk’s association with the Trump administration appears to be weighing on Tesla’s brand perception, further unsettling investors.
Year-to-date, Tesla’s stock has plummeted by more than 42% and corrected by more than 50% from its peak of $488.54 in December 2024. This sharp decline raises the question of whether more pain lies ahead or if this significant pullback presents a buying opportunity.
