Tesla bounces for second day after steepest drop since 2020
TeslaTesla(US:TSLA) CNBC·2025-03-12 15:07

Core Insights - Tesla shares experienced a rebound, rising nearly 6% after a significant drop earlier in the week, which marked the worst day for the stock since 2020 [1] - The electric vehicle stock had previously plunged 15.4% in a single day, driven by broader market declines and investor concerns over recession and tariff uncertainties [2] - Since President Donald Trump took office, Tesla's market value has decreased by more than a third, despite initial gains attributed to Musk's close ties with the administration [3] Summary by Category Stock Performance - Tesla shares rose nearly 6% in early trading after a 3.8% gain the previous day, indicating a recovery from a significant decline [1] - The stock had its worst session since September 2020, dropping 15.4% due to market-wide sell-offs [2] Market Context - The decline in Tesla's stock contributed to a broader market downturn, with the Nasdaq experiencing its worst day since 2022 and a total loss of $750 billion in market value among major tech companies [2] - Concerns over recession and tariff uncertainties have led to increased volatility in technology stocks, including Tesla [2] Company-Specific Factors - Tesla's market value has decreased by over a third since the beginning of Trump's presidency, despite initial optimism following the election [3] - The initial post-election rally was fueled by expectations that Musk's relationship with Trump would benefit Tesla [3]

Tesla bounces for second day after steepest drop since 2020 - Reportify