Tesla plunges 36% in first quarter, worst performance for any period since 2022

White House Senior Advisor, Tesla and SpaceX CEO Elon Musk attends a cabinet meeting held by U.S. President Donald Trump at the White House on March 24, 2025 in Washington, DC. Tesla's stock just wrapped up its worst quarter since 2022 and suffered its third-steepest drop in the company's 15 years on the public market. Shares of the electric vehicle maker plunged 36% in the first three months of the year. The last time Tesla had a worse stretch was at the end of 2022, when the stock cratered 54%. That quarter included CEO Elon Musk's sale of more than $22 billion worth of Tesla shares to finance his $44 billion acquisition of Twitter, later renamed X. On Friday, Musk said his artificial intelligence startup xAI has acquired X in a deal valuing the social media company at $33 billion. Tesla's first-quarter drop wiped out over $460 billion in market cap. The majority of the quarter overlaps with Musk's time in the second Trump administration, leading an effort to slash government spe ... Read full article.