Tesla's stock is well on its way to collapse. In recent days, almost 500 billion kroner has gone up in smoke. Elon Musk alone has lost 70 billion kroner.
Tesla's share price has been hit by a significant drop on the stock market today. The drop corresponds to a loss of 477 billion kroner.
Elon Musk alone, who owns large parts of Tesla, has lost almost 70 billion kroner of his fortune on that account.
The latest drop in the share price comes after a period of decline for Tesla in both its financials, profit per car, and the number of cars sold.
Financial analyses from investment bank UBS indicate that Tesla is facing another weak quarter characterized by reduced sales and pressure on earnings.
For the same reason, the bank has lowered its price target for Tesla shares and maintained its recommendation to sell Tesla shares.
Several banks recommend selling Tesla shares
A previous increase in the price, based on expectations that Donald Trump's policies would be beneficial to Elon Musk and Tesla, has been completely erased by the decline.
Since the stock's latest high back in December 2024, Tesla has only gone down. Namely down.
Several factors are contributing to the current decline in Tesla's share price. Weak sales figures, downgraded forecasts from several major financial institutions, and growing concerns about Tesla's future earnings are among the most important.
UBS points out that increased marketing costs are weighing on Tesla's increasingly weak margins on each car.
Tesla also has difficulty keeping up when its competitors lower prices, even though it was the Americans who actually started the price war in the electric car market.
Bank of America and Goldman Sachs have also lowered their price targets, pointing out that Tesla is not as popular as the brand has been.
Elon Musk's personal actions have, according to several analysts, negatively affected Tesla as a brand. Political statements from Musk have caused opposition to increase. And some have even chosen to attack Tesla stores and Tesla owners.
In some cases, demonstrations have escalated into vandalism and arrests. Most recently, a 41-year-old man was arrested for shooting at a Tesla store in the United States.
In some places, however, they are completely indifferent to the storm the car brand is in. A major Swedish car dealer was able to say this month that he has actually never sold more Tesla models than now.
And in England, according to the site Vehicle Suggest, the brand's sales increased by a whopping 20 percent in February alone, with drivers purchasing 4,000 Tesla models.
