Tesla shares have declined every week since Elon Musk went to Washington

Elon Musk speaks during the first cabinet meeting hosted by U.S. President Donald Trump, at the White House in Washington, DC, U.S., February 26, 2025. Tesla's stock has never had a stretch this red. For seven straight weeks, since Elon Musk went to Washington, D.C. to join the Trump administration, shares in his automaker have declined, closing on Friday at $270.48. It's the longest such losing streak for Tesla in its 15 years as a public company. Tesla shares finished the week down more than 10% and at their lowest level since Nov. 5, Election Day, when they closed at $251.44. Since the stock peaked at almost $480 on Dec. 17, Tesla has lost well over $800 billion in market cap. Several Wall Street firms this week, including Bank of America , Baird and Goldman Sachs , cut their price targets on Tesla. In slashing their target from $490 to $380, analysts at Bank of America cited concerns about the company's falling new vehicle sales and the lack of a recent update from Musk on a " ... Read full article.