Tesla Stock's Election Rally Is All Gone—Erasing 91% Gain

Core Points - Tesla stock has officially traded lower than its pre-election price, erasing a 91% gain since Trump's victory [1] - The stock price dropped about 8% to $241, marking its lowest level since November 4 [1][2] - Tesla's decline is part of a broader market downturn, with the Nasdaq Composite falling nearly 3% and entering a 10% correction [2] Company Performance - Tesla's stock is down over 50% from its all-time high in December, which was driven by favorable expectations from the Trump administration [3] - UBS analyst Joseph Spak predicts a 5% decline in Tesla's vehicle deliveries for 2025, contradicting the consensus forecast of 12% growth for this year [2] Financial Impact - Elon Musk's net worth has decreased by $134 billion from its peak of $464 billion in December, with a $12 billion drop occurring on the day of Tesla's stock decline [4] Market Context - Tesla is significantly impacted by Trump's tariffs, as China is its second-largest market and the company relies on parts from Canada, China, and Mexico [5] - Reports indicate lower sales for Tesla in China and Europe as the company faces challenges related to Musk's political stance affecting its brand reputation [5]