Tesla's worst month since 2022 coincided with Elon Musk's first full month in White House

Leader of the Department of Government Efficiency Elon Musk wears a shirt that says "Tech Support" as he speaks during a cabinet meeting with US President Donald Trump at the White House in Washington, DC, on February 26, 2025. Tesla's stock started off March the way it left off February: in the red. In CEO Elon Musk's first full month as part of President Donald Trump's White House, shares of his electric vehicle company plunged 28%, the steepest drop since December 2022. The stock fell another 3% on Monday, the first trading day in March, pushing the company's market cap to about $915 billion. The slide on Monday followed a social media post from Musk over the weekend, suggesting that a "1000% gain for Tesla in 5 years is possible" with "outstanding execution." And Morgan Stanley named Tesla its top pick in U.S. autos in a note on March 2. In the company's fourth-quarter earnings report in late January, Tesla said automotive revenue sank 8% from a year earlier and reported a 23% ... Read full article.