Tesla shares fell 8% on Tuesday, pushing market value to under $1 trillion for the first time since November, after it was shown that sales of electric car manufacturers had ceased in Europe in January.
The European Automobile Manufacturers Association reported Tesla sales fell 45% in Europe, compared to a jump of 37% of total EVS sales in Europe.
The decline in sales highlights Tesla's challenges following the decline in global delivery last year, pushing CEO Elon Musk to deploy a low-priced model and an autonomous vehicle that will link Tesla's future. I went there.
Tesla's stock fell to $305, leaving the company with a market capitalization of $981 billion, exceeding twice the total value of General Motors, Volkswagen, Toyota Motors, Hyundai Motors and BMW.
Some investors are also worried that at President Trump's request, the role of masks in overseeing radical federal shrinking could distract Tesla from the attention of some consumers. They are worried that it will undermine the company's brand appeal to those.
Musk also leads privately hosted space rocket maker SpaceX and other private companies.
“He's a very practical operator. If you spend that much time in your White House office, how much time does he spend running all other companies, including those that are publicly available. ” says Art Hogan, chief market strategist at B. Riley Wells in Boston.
Concerns about possible overinvestment in artificial intelligence are weighing Microsoft and Meta platforms ahead of Tesla and Wednesday's quarterly report on AI chip heavyweight Nvidia, Hogan said.
According to LSEG, Tesla stocks have recently traded above an average PE of 93 at 112 times the expected revenue.
In comparison, Ford's stock is valued at eight times the revenue, while GM is seven times the amount.
Tesla Bulls points to the company's plans to launch new, inexpensive electric vehicles and Mask's promise to launch paid autonomous vehicle services.
Due to the decline on Tuesday, Tesla shares remained up 51% over the past 12 months. Since the start of the year, stocks have fallen 24%.
