Tesla’s stock has experienced numerous fluctuations over the years due to CEO Elon Musk’s dynamic nature. Musk’s initiatives to advance the electric vehicle (EV) market have been celebrated, but his detractors highlight missed model launch timelines and autonomous vehicle promises. Recently, Musk’s decision to support President Trump’s election and lead the Department of Government Efficiency (DOGE) has intensified debates. Musk’s political stances have disappointed many Tesla supporters, leading to declining sales in key markets such as Europe, China, and California.
Tesla’s stock plummeted over 50% from its December highs to its mid-March low. However, shares have stabilized recently, rising over the past week, including an 11% surge on March 24 following significant news from China. Tesla announced on its Weibo account that it plans to launch Full Self-Driving (FSD) in China once regulatory approval for over-the-air software updates is granted. This potential near-term arrival of FSD could rekindle interest in Tesla and offset recent sales declines, resulting in a nearly 12% stock rally. Comments by President Trump also contributed to the gains, as reports suggested the White House might exclude some countries from reciprocal tariffs and avoid sector-specific auto tariffs.
— news from TheStreet