Tuesday proved to be a day -long day for Alan Musk. Tesla’s shares fell over 8% to $ 305, causing the company’s market cap to fall below the $ 1 trillion for the first time to $ 981 billion.
Tesla’s sales saw a huge decline in Europe. According to the European Automobile Manufacturers Association, Tesla’s sales decreased by 45% in January, while the total sales of the electric vehicle (EV) across Europe increased by 37%.
On Mahashivaratri, crowds of devotees gathered in Kashi, Ujjain and Deoghar, devotees immersed in devotion
Tesla shares are due to decline
Shares declined by 24%: Tesla’s shares have broken up to 24% so far this year, although the last 12 months saw a 51% increase. High valuation worry: Tesla’s shares still 112 times their expected earnings Trade on, which is more than the average PE (93) of the last five years. This valuation is much higher than Ford and General Motors. Pressure of new cheap models and self-driving cars: The company will have to work fast on cheap models and advanced self-driven technology to improve sales.
Investors’ concerns increased
Musk’s increasing interest in politics: Investors are fearing that their growing role in American politics, especially in the White House, Tesla’s brand image and Musk’s focus may affect. More investment pressure in AI: AI in AI There is also uncertainty about excessive investment on chips and automation, causing pressure on Tesla, Microsoft and Meta shares.
