Economics

1089 readers

59 users here now

founded 2 years ago

Tesla lost more than one-third of its value in first quarter (www.newsweek.com)

submitted 11 months ago by MicroWave@lemmy.world to c/economics@lemmy.world

7 comments fedilink hide all child comments

Summary

Tesla's stock fell 36% in Q1 2025, closing at $259.16, down from $403.84 at the end of 2024, making it one of the S&P 500’s worst performers.

The drop follows public backlash against Elon Musk's role in Trump’s cost-cutting DOGE initiative. Protests, vandalism, and a global “Tesla Takedown” campaign targeted Musk and Tesla.

Musk’s net worth dropped $121 billion.

Ongoing market volatility, tied to Trump’s new tariff plan launching April 2, is expected to further impact Tesla and broader markets.

you are viewing a single comment's thread
view the rest of the comments

[–] FuglyDuck@lemmy.world 9 points 11 months ago (1 children)

Musk’s net worth dropped $121 billion.

So... does this make him not the richest guy yet?

[–] Ilovethebomb@lemm.ee 5 points 11 months ago

God, that would be funny.