Tesla shares had an eventful week, last. And it was not all moonlight and roses. The company shares had a reasonably decent start to the week, but it lost its momentum and lost steam as the week came to an end.
Tesla Shares Last Week
On the last trading day of the week, on Friday, March 28, the shares of the Elon Musk-led enterprise stumbled down the block of Wall Street as the company shares dipped after opening at USD 275.58, higher than Thursday’s USD 273.13 per share.
By the end of the day’s trade, the value of the most valuable car company shrunk by 3.51 per cent or USD 9.58 per share. Even in the afterhours segment, the company shares only decreased further.
Here, a decline of USD 3.53 or 1.34 per cent was observed.
When we look at the performance of Tesla shares over the past week, the Model Y and Model S maker ended the week with overall gains.
In the past 5 trading sessions, Tesla shares saw a cumulative growth of 2.10 per cent or USD 5.42 per piece. This performance took the overall value of the company shares to USD 263.55.
Meanwhile, in the past month of trade, Tesla shares have observed a decline of 10.05 per cent or USD 29.43 per share.
Impact Of Trump’s Tariffs On Tesla
This comes at a time of increasing volatility in the market, thanks the policies of US administration under its president Donald Trump. Tariffs, the cornerstone of his policies, are expected to have far-reaching affects on different segments.
One of the aspects to be affected include the domestic industry and companies like Tesla.
Musk himself agreed with the challenges ahead. While replying to a post on X, Musk said, “Important to note that Tesla is NOT unscathed here. The tariff impact on Tesla is still significant.”
With April 2, the deadline for Trump’s tariff, individual and reciprocal fast approaching, the volatility in the market is only expected to rise further. This, would therefore result in more chaos at Wall Street and across the international market scene.
