$TSLA Stock Plummets to 52-Week After Musk Went Full-Blown MAGA Mode
News that’s ready to swallow – no chewing required:
Elon Musk’s embrace of President Donald Trump and the MAGA movement has dramatically affected Tesla stock. After Musk voiced his support for TRUMP and gave him his Twitter access back, $TSLA has plummeted to a 52-week low, losing more than 60% of its value since late June. This contrasts sharply with the overall market, which is up roughly 15% year-to-date.
The Musk effect has been especially telling for Tesla investors. As Musk tweeted his support for right-wing causes, Tesla shares continued to plummet. Musk famously declared war on human rights, apparently—and Tesla’s fortunes continued to decline with each tweet.
The Musk effect has been particularly pronounced on Wall Street, where analysts have watched as Tesla’s stock has fallen further than it ever did during Musk’s tenure as CEO. It’s also taken a toll on Musk: Forbes estimates that he’s lost over $15 billion in net worth this year due to the decline in Tesla’s share price. The company is now valued at less than half of where it was trading before Musk went “full MAGA mode” earlier this summer.
Analysts have attributed most of the recent decline in Tesla shares to Musk’s political positions. They have speculated that many investors choose not to invest due to their disagreement with his views. Despite its recent losses, however, some analysts remain bullish on Tesla’s future outlook—particularly if Musk can rally support for his conservative causes without further eroding investor confidence in the company. For now, investors will be watching nervously as they wait to see how much further Musk’s MAGA mode will cause $TSLA stock prices to drop before they begin seeing any signs of recovery.