Business Desk 
Mar 11, 2025
In what seems to be an indication of a crackdown against Elon Musk's electric vehicle (EV) party, shares of his EV maker giant, Tesla, slumped over 15%, losing all the gains it clutched following the US presidential election in November.
Tesla's market capitalisation touched the $1.5 trillion bar in mid-December, with shares trading at approximately $480, but the recent slump sent the stock tumbling to $222, dropping Tesla’s value to around $715 billion.
The plunge came on the heels of an analyst forecasting a downward trend, which seems to have further drowned the EV maker's stock value, The Express Tribune reported.
Before such a discouraging downfall, Tesla shares had been very positively responsive to the new US administration since December last year, moving on the beat of US President Donald Trump's victory and every move he made in favour of Musk.
Much to the dismay of Musk and those who heavily invested in Tesla stocks, they have been on a steady decline since they peaked and nearly doubled in mid-December 2024, and the drop accelerated over the past weeks.
Even throughout the entire 2024, the EV maker's shares remained in the grip of a troubling trend, resulting in a historically low delivery decline recorded after more than a decade.
Despite all the upheavals, Musk was seen devoting much of his resources and attention to the rise of autonomous cars and humanoid robots, even when the success probabilities began to diminish alongside investor optimism.
Tesla's market capitalisation reached a high of $1.5 trillion in mid-December, with shares trading at around $480, but the recent decline has seen the stock fall to about $222, dropping the company’s value to around $715 billion.
