Photo: Tesla Model Y
Shares of the American electric car manufacturer Tesla fell by 36% in the first three months of this year, the sharpest drop since 2022.
According to Ukrinform, this was reported by CNBC.
This was also the third worst result in any quarter of the company’s financial statements in 15 years. Overall, the electric vehicle manufacturer’s shares fell 36% in the first three months of the year.
The last time Elon Musk’s company did worse was at the end of 2022, when the shares of his Tesla company plummeted by 54%. The fall in Tesla’s share price in the first quarter wiped out more than $460 billion of the company’s market capitalisation.
It is noted that most of this quarter coincides with the period when Musk is working in the second administration of US President Donald Trump, trying to cut federal spending and lay off tens of thousands of federal employees.
