Today was Tesla’s worst day since 2020
It’s been a bad day for many major companies, but hey, at least they’re not Tesla. The electric vehicle company saw its biggest daily decline — more than 15% as of market close — since 2020, the year that was plagued by a global pandemic and ensuing supply chain chaos.
Back in September 2020, Tesla saw its biggest decline ever, 21%, after Standard & Poor’s didn’t add the company to its index of the 500 biggest stocks. Notably, Tesla, which is now on that list, is now the worst-performing stock on the S&P 500 for the year.
Tesla has been facing declining sales, lowered analyst estimates, growing competition, shrinking popularity, a rash of protests against the company and CEO Elon Musk, and tariffs on Mexico and Canada, where many of its parts are manufactured.
