Saturday, April 13, 2024

Tesla gets another slap – performs worst of all

The S&P 500 is the index of the 500 largest stocks in the United States. And this is where Tesla fares worst. Even worse than crisis-stricken Boeing.

Tesla has had a rough year. Not only is the brand's market share plummeting in some of the most important markets, but competitors – especially those from China – are coming roaring.

Something that pushes Tesla out of especially European and Asian carports, driveways and parking garages. And that can be seen in the brand's share price.

Because even though Tesla dominates at home, and last year broke a crazy 37-year-old record, the value of the brand is rattling downwards. This can be seen in particular on the S&P 500 index, which is a list of the 500 largest companies.

Because although the value of the index grew by four percent in January, it was not the Tesla share that pulled up. Rather the opposite.

READ ALSO: Cost 150 million kroner – now the police must not touch them

Even the aircraft manufacturer Boeing, which is currently in a deep crisis, is not in as free fall as Tesla. In just over a month, the car brand's stock has lost 24.5 percent of its value.

This corresponds to one quarter of Tesla's value having disappeared in 30 days.

– Now Elon Musk's behavior is really starting to hurt shareholders. And that is really unfortunate. The reason we have shares (in Tesla, ed.) is that the brand's long-term potential is enormous, says investment firm Gerber Kawasaki to Yahoo Finance .

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