Tesla Shares Decline Sharply For The First Time In Years

Tesla stock has been plummeting for weeks and there is no end in sight to this crash. And one actually has to speak of a crash, because the price has only known one direction since the fall: down. Now it has fallen to a new low.

Today the Tesla share slipped below the 100 euro mark for the first time, after the trading day the paper fell to 98.42 euros in the meantime – it was last this low in the summer of 2020. The price of the share with the abbreviation TSLA is now in three digits again, but In view of the development of the past few weeks, it is questionable whether a trend reversal is possible in the near future.

You can see how dramatic the nosedive is if you take a closer look at the development of the last twelve months: Because at the beginning of this year the share was still around 400 dollars, so Tesla lost around 75 percent of its value in 2022. The problems at the electric car manufacturer are partly caused by the overall economic situation in the world, but partly also homemade.

Problems: War, Corona, and Musk

Because Tesla, like the entire global economy, is suffering from the war in Ukraine, and there are also corona-related production problems in China. But not only: Because the chaos that Elon Musk caused by taking over Twitter and the almost daily excitement and scandals that the 51-year-old causes undoubtedly have a massive impact on the course.

After all, since Musk took over Twitter, the value of Tesla shares has more than halved and the unrest among the carmaker’s investors is growing. They believe Musk is wasting his time on Twitter and should focus on Tesla. His more and more openly displayed right-wing political attitude is also becoming a problem because many customers are turning away from Tesla because of Musk – polls also clearly confirm this.

The connection between the shortfall and Twitter and Musk is de facto proven or provable: While the leading index of the technology exchange Nasdaq has been more or less stable in recent months, Tesla’s price has continued to fall. Before that, the two curves were more or less in sync for most of the year – they split in late October, around the time of the Twitter takeover.